BusinessMirror December 05, 2019

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Thursday, December 5, 2019 Vol. 15 No. 56

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Palace targets parties behind water contracts ₧7.4B P

By Bernadette D. Nicolas

@BNicolasBM

RESIDENT Duterte is hell-bent on getting back at those behind the alleged onerous agreements of the government with the two water concessionaires, “regardless of whatever power or influential groups are run over.”

Presidential Spokesman and Chief Presidential Legal Counsel Salvador S. Panelo said in a statement on Wednesday that the President directed the filing of appropriate charges against all those behind

the alleged onerous agreements with the two water concessionaires—Manila Water and Maynilad Water Services Inc. (MWSI).

The order was given a day after the Department of Justice (DOJ)

revealed that its review of the concession agreements, made in the 90s contained several onerous provisions and the government will likely push for a renegotiation.

Manila Water is a publicly listed

Amount that the Permanent Court of Arbitration in Singapore directed the Philippine government to pay Manila Water, for the non-implementation of water-rate hikes prior to Duterte’s presidency

company and a subsidiary of Ayala Corp., while businessman Manny Pangilinan’s Pacific Investments Corp. owns a controlling stake in Maynilad.

According to Panelo, those who will be held accountable include the water concessionaires’ owners and

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@BcuaresmaBM

HE Philippine banking system is expected to continue to perform well, as sustained economic growth will likely cushion the potential negative effects of external developments.

In a recently published assessment on the performance of Asia Pacific banks, Fitch Ratings said the local banking system is generally “stable.”

“The rating outlooks are all stable, reflecting the benign environment and supported by the banks’ adequate loss-absorption buffers, satisfactory profitability, as well as broadly steady funding and liquidity profiles,” Fitch said.

In the report, the credit watcher also said it expects operating conditions to be generally supportive

PESO EXCHANGE RATES n

of loan growth and credit quality.

“A recover y in government infrastructure spending should lift GDP [gross domestic product] growth in the coming year, but banking sector profitability is likely to moderate after a stronger 2019,” it said.

In the first half of the year, the Philippine economic growth dropped to below target due to the government’s inability to pass the budget on time. Economists, however, believe that the catch-up plan will lift the country back to a growth of 6 percent and higher, just within the government’s 6-percent to 7-percent target for the year.

“We expect a pick-up in government infrastructure spending to spur broader investment activity, amid sustained consumer demand.

Continued on A2

medal tally as of december 4, 2019 | 5:05 p.m contingent

gold

silver

bronze

total

philippines

54

36

19

109

vietnam

23

29

27

79

malaysia

20

9

19

48

indonesia

16

23

24

63

singapore

11

10

16

37

thailand

8

14

21

43

myanmar

1

6

20

27

Brunei

1

5

5

11

CamBodia

1

3

17

21

laos

0

0

6

6

timor-leste

0

0

0

0

BOI-listed FDI breach ₧1-trillion goal for ’19

PHL banking system will keep doing well—Fitch

By Bianca Cuaresma

Continued on A2

P25.00 nationwide | 6 sections 62 pages |

By Samuel P. Medenilla

T SILVER FOR MUAY THAI DUO The Philippines’s tandem of Rusha Mae Bayacsan (in blue belt) and Irendin Lepatan (in red belt) spar in Waikru Mai Muaythai women’s competition at the Subic Bay Exhibition and Convention Center for a score of 9.45 points on Wednesday. The duo settled for the silver medal after Thailand’s tandem scored 9.47 points. Stories and photos on the 2019 SEA Games on pages C1, C2 and C3. NONOY LACZA

@sam_medenilla

HE Department of Trade and Industr y (DTI) on Wednesday said foreign direct investments (FDI) registered by the Board of Investments (BOI) have finally breached the P1-trillion target for 2019.

In a press conference, Trade Undersecretary Ceferino S. Rodolfo said the FDI target was reached in October. “This is the third consecutive year that the Board of Investments has been making history in terms of investments performance,” Rodolfo said.

US 51.0590 n JAPAN 0.4700 n UK 66.3665 n HK 6.5214 n CHINA 7.2311 n SINGAPORE 37.4470 n AUSTRALIA 34.9397 n EU 56.5785 n SAUDI ARABIA 13.6165

See “BOI,” A2

Source: BSP (4 December 2019 )

News

BusinessMirror

A2 Thursday, December 5, 2019

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House won’t table ABS-CBN franchise in ’19

By Jovee Marie N. dela Cruz @joveemarie & Samuel P. Medenilla @sam_medenilla

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ITH only a few months left before the expiration of ABS-CBN Corp.’s franchise, the leadership of the House of Representatives said on Wednesday it will not act on the TV station’s franchise this year, deepening the anxiety over the network’s fate.

House Committee on Legislative Franchises Chairman Franz Alvarez said the committee has no scheduled hearings for the bill renewing the franchise of

ABS-CBN Corp. until Congress adjourns for the Christmas break on December 18.

“No schedule of hearing on December 10, no hearing for the year,”

Alvarez said. ABS-CBN’s franchise is set to expire on March 30, 2020.

Speaker Alan Peter Cayetano, seeking to ease apprehensions the House will simply follow President Duterte’s stance and block renewal of the network’s 25-year franchise, said there’s more than enough time for lawmakers to tackle the matter in January and February.

Several bills have been pending before the House Committee on Legislative Franchises seeking the renewal of the local media giant’s congressional franchise.

On Tuesday evening, President Duterte said he will make sure that ABS-CBN will be out of business next year.

On Wednesday, however, Cayetano—a close ally of the President— gave assurances the lower chamber would be fair in tackling the bill seeking renewal of the network’s congressional franchise.

“I reiterate that Congress will be

“Congress will be fair...ABSCBN management knows that we will prioritize the budget and revenue bills...

But we have more than enough time to tackle it in January, February because the expiration of the franchise is still in March.”—Cayetano

fair, will always have a fair hearing. The ABS-CBN management knows that we will prioritize the budget and revenue bills,” Cayetano said.

“But we have more than enough time to tackle it in January, February because the expiration of the franchise is still in March,” he added.

Cayetano said the renewal of the ABS-CBN franchise depends on the outcome of the hearing.

“I cannot preempt the committee or the issues that will be

Palace targets parties behind water contracts Continued from A1

legal counsel, as well as agents and lawyers of the government.

“The use and delivery of water is impressed with public interest; hence, it is but a privilege and, therefore must not be abused.

Our water concessionaires in Metro Manila, Rizal and Cavite, however, have not only abused the arrangement of delivering and distributing the state-owned water to the citizens but have treated the same as a commodity and a money-making venture, instead of considering it as a public service,” Panelo said.

The President’s expression of outrage over the alleged onerous agreements followed the release of the decision of the Permanent Court of Arbitration in Singapore, directing the Philippine government to pay Manila Water P7.4 billion for the nonimplementation of water-rate increases that occurred prior to his presidency.

In a statement on Wednesday, Manila Water said it had reached

out to Finance Secretary Carlos Dominguez III when it got wind of the Singapore ruling, and even before it was reported in media, and that “we informed him that we are willing to come up with a mutually acceptable manner of implementation of the arbitral award considering that this case was filed due to a violation incurred not during this administration.”

Dominguez “acknowledged our proposal to work very closely with his office to find a mutually acceptable scheme to address the award,” Manila Water claimed.

The concessionaire also explained the circumstance behind the extension to 2037 of the concession agreement, way before the original term was to end in 2025. This apparently premature extension was cited by the DOJ report among the onerous features of the arrangement with the concessionaires.

Manila Water explained how this happened: “In 2009, the administration of then President Glo-

PHL banking system will keep doing well—Fitch Continued from A1

This should bode well for loan growth, especially after several rounds of policy easing in recent months that partly reversed earlier tightening measures,” Fitch said.

Amid higher loan growth rates, Fitch said it expects downward pressure on capital adequacy ratios as loan growth picks up once more.

“The regulator has eased domestic systemically important bank (DSIB) buffer requirements for the largest banks, leaving room for their capital positions to drift lower. However, we expect any erosion to be mild, and capital buffers should remain adequate,” Fitch said.

Overall, Fitch ’s assessment of emerging banking systems in

Maritime. . .

Continued from A8

The members of the Council under Category A are 10 states with the largest interest in providing international shipping services.

Those in Category B are 10 states with the largest interest in international seaborne trade.

The Philippines joins Bahamas,

Asia-Pacific remains stable for this year. “ T he nu m b e r of ne g at i v e outlooks on individual systems has fallen slightly, with most central banks shifting course toward looser monetary policy and financial conditions. For those systems where Fitch has a negative sector outlook, we believe any deterioration in key financial metrics will only be moderate in the coming year,” the credit watcher said.

“The operating environment remains challenging, yet stable.

Nevertheless, downside potential looms in most markets—external (e.g., global growth, macro issues) and internal (e.g., risk appetite) in origin—which policy-makers are warding off through measures to support near-term stability,” it added.

Belgium, Chile, Cyprus, Denmark, Egypt, Indonesia, Jamaica, Kenya, Kuwait, Malaysia, Malta, Mexico, Morocco, Peru, Singapore, South Africa, Thailand, and Turkey in the list of member-states elected under Category C for the biennium 2020-2021. The 31st Assembly of the International Maritime Organization was held in London at the IMO Headquarters from November 25 to December 4, 2019.

ria Macapagal-Arroyo extended the Concession Agreement up to 2037 upon recognizing the compelling need for more water and wastewater investments.

The Clean Water Act and, subsequently, the Supreme Court Mandamus expanded from 50 percent as contained in the original Concession Agreement to 100-percent sewer coverage.

The extension required our commitment to spend an additional P458 billion to comply with the new water supply and wastewater requirements all the way to 2037.” See related story on page A8.

DOJ findings

THE Department of Justice (DOJ) tasked by the President to review government contracts found that the agreements with Manila Water and Maynilad are onerous.

“A review of the agreements with the Manila Water and Maynilad reveals that they are contrary to public policy and public

BOI. . .

Continued from A1

He attributed this to FDIs in the energy, telecommunications, and manufacturing sectors.

Among the biggest FDIs contributors this year, DTI said, was DITO Telecommunity, the country’s third telecommunication player.

Rodolfo said they expect even more FDIs in the future, especially with the passage of the new law opening up some local industries to foreign investments.

Currently, Sen. Imelda “Imee” Marcos said legislation is now being prioritized in the Senate after the House of Representatives completed its version of that bill .

In the pending Senate version, she said the paid-up capital for for-

Manila water. . .

Continued from A8

We also reduced water losses from 63 percent to less than 12 percent, saving 700 million liters per day of water.”

The company explained that the Concession Ag reement— which the DOH has deemed disadvantageous to government— ended up containing a procedure for the adjustment of water rates in accordance with the MWSS Charter because “MWSS decided to pay our services and reimburse our costs with the water tariff that we collect.”

interest, the same being onerous and disadvantageous to the people, relative the terms or periods, government noninterference, as well as concessionaire indemnification for losses,” he said.

Thus, the Chief Executive ordered the DOJ and the Office of Solicitor General to draft and prepare new contracts which are favorable to the State and the Filipino people.

“It is apparent that some members of the government have not only looked the other way, but have, in fact, purposely guided the hands of those who have raped our economy for their own personal aggrandizement. Worse, they are hell-bent on bleeding our country dry. The proper delivery of basic services has not been fostered, but thwarted to the outrageous detriment of the Filipinos,” he said.

“Those who impede or derail the constitutional directive to the President to serve and protect the people shall find themselves behind bars with free food and lodging,” he added.

eign investors has been reduced to just $100,000 and the percentage for their local employment threshold was lowered from 50 percent to just 15 percent.

“This will be a big help for us [to attract] investments. This will probably impact our tourist infrastructure immediately and also in the highly desired digital space because the startups are really, really small,” Marcos said.

Trade Secretary Ramon M. Lopez said they support the bill since it will provide more investments in and enhance the competitiveness of certain medium to big enterprises.

For next year, Lopez said offhand they are targeting for FDIs to reach P1.5 trillion.

He said they expect most of these FDI will come from China, Japan, US and Singapore.

“The Republic of the Philippines undertook to respect the procedure, which is under the full control of MWSS from beginning to end,” said Manila Water.

“The arbitral award issued in our favor is for acts in breach of t he procedure committed by officials of the previous administration, not the Duterte administration,” clarified the company.

“We wish to reiterate that Manila Water is more than willing and has started to work with the incumbent administration to come up with a workable solution to the arbitration decision,” it concluded.

taken,” he added. Moreover, Cayetano said he respects the President’s stance on the matter.

Labor’s appeal

DON’T make it personal.

This was the appeal of labor groups to President Duterte, who recently renewed his threat to block the legislation renewing the franchise of ABS-CBN Corp.

With thousands of jobs at risk, Defend Jobs Philippines appealed to Duterte to reconsider his decision. “Being vital in operating for the next 25 years, the legislative franchise of ABS-CBN will save the jobs and source of livelihood of more than 10,000 Filipino workers and their families,” Defend Job Philippines Spokesman Christian Lloyd Magsoy said in a statement.

During a speech on Tuesday evening, Duterte repeated his gripe against ABS-CBN: the network, he said, deliberately chose

not to show his campaign ads despite during the 2016 Presidential elections.

Trade Union Congress of the Philippines (TUCP) Spokesman Alan Tanjusay said Duterte’s latest statement has caused anxiety among ABS-CBN employees.

“Some of them came to me and said they are seriously worried about losing their jobs every day.

Particularly worried are those employees who are above 35 years old who thought that they might be unable to get decent jobs because they think they are old and past age qualifications,” Tanjusay said in a statement.

Citing data from the Securities and Exchange Commission (SEC) and Philippine Stock Exchange (PSE), Defend Job Philippines said ABS-CBN employs 6,730 regular employees, 900 non-regular workers and more than 3,325 talents as of the end of 2018.

DPWH, Jica start work on detailed design study of Bangsamoro road project

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OKYO has stepped up its investment in efforts to promote sustainable peace and development in the Bangsamoro Region by improving the national road network that supports the foundation of people’s lives.

The Japan International Cooperation Agency (Jica) will provide technical support to the Department of Public Works and Highways (DPWH) in carrying out detailed design study of the Road Network Development Project in Conflict Affected Areas in Mindanao.

Following a series of meetings between the DPWH and the Jica Study Team, DPWH Undersecretary Emil K. Sadain of UPMO Operations and Technical Services and Jica Senior Director Masahiro Ueki of the Office for Loan Project Technical Examination- Infrastructure Engineering Department signed on Wednesday the Minutes of Meeting of the detailed design study for the 13.9-kilometer Matanog-Barira-Alamada-Libungan Road and 62.6 kilometers TapianLebak Coastal Road in the Bangsamoro Autonomous Region in Muslim Mindano (BARMM).

The meeting also tackled the target submission of the Jica Study Team by end-April 2020 of an indicative cost for the civil work of Matanog-Barira-Alamada-Libungan Road and Tapian-Lebak Coastal Road, including of the identification of potential sites leading toward construction of farm-to-mar-

ket and tourist destination roads to develop agriculture and tourism in the region.

Sadain, who was designated by DPWH Secretary Mark A. Villar to manage the implementation of various infrastructure projects in BARMM, said that Jica assistance in rehabilitating the road system is expected to foster economic activity, ensure smooth commodity flow, and improve the region’s accessibility.

Jica is also assisting the reconstruction and development plan for Greater Marawi with a grant of P970 million or ¥2 billion for the 18.97-kilometer Transcentral Roads including the detailed engineering design for stage 2 Transcentral Roads, consisting of 13 road sections.

Financing for the Marawi Transcentral Roads stage 2, with total length of 21 kilometers, together with the 19.8-kilometer Marawi City Ring Road, are included in the P14-billion Jica loan signed on June 18, 2019 under the Road Network Development Project in Conflict-Affected Areas in Mindanao or RNDP-CAAM. The latter also includes the construction of new roads to link inaccessible communities of Maguindanao Province that will contribute to the consolidation of peace, particularly the 35 kilometers Parang-Balabagan Road, 7-kilometer Parang East Diversion Road, and 16.8-kilometer Manuangan-Parang Road.

PUBLIC Works Undersecretary Emil K. Sadain (center) seals the agreement with Jica officials led by Senior Director Masahiro Ueki of the Office for Loan Project Technical ExaminationInfrastructure Engineering Department (left) for the conduct of a the detailed design study for the 13.9-kilometer Matanog-Barira-Alamada-Libungan Road and 62.6 kilometers Tapian-Lebak Coastal Road in the Bangsamoro Autonomous Region in Muslim Mindano (BARMM). DPWH PHOTO

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The Nation BusinessMirror

Editor: Vittorio V. Vitug • Thursday, December 5, 2019 A3

DND chief recommends lifting of martial law in Mindanao

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EFENSE Secretary Delfin N. Lorenzana has formally recommended to President Duterte not to extend martial law in Mindanao once its third extension lapses by year-end.

Lorenzana, in a message to reporters, said he submitted his recommendation to the Chief Executive on Wednesday.

“The Department of National Defense [DND], based on the assessment conducted by the Armed Forces of the Philippines [AFP] and the Philippine National Police, has recommended to the President not to extend martial

law in Mindanao, when it expires on 31 December 2019. The recommendation was submitted to Malacañang today [Wednesday],” he added.

In support of this, Lorenzana said, the country’s security forces have determined that the purpose of implementing martial law has been attained.

He added that prevailing security conditions

in Mindanao, as well as those of Basilan, Sulu, and Tawi-Tawi, have greatly improved since the defeat of the Maute Group fighters in October 2017. “The AFP believes that the Maute Group and other threat groups can no longer launch a Marawi-type attack as their forces and capabilities have significantly dwindled,” Lorenzana said.

Aside from this, the DND chief said significant strides in combating insurgency have been achieved with three guerilla fronts and three Pulang Bagani Command cleared and dismantled, respectively.

The House of Representatives, in a joint session held on December 12, 2018, has 235 in favor, 28 against, and one abstention in the vote to approve the extension of martial law in Mindanao, until December 31, 2019.

The AFP recommended another yearlong extension of martial law in Mindanao in a bid to totally neutralize terror groups still operating in Mindanao.

Martial law in Mindanao was declared on May 23, 2017, following attacks launched by the Maute Group in Marawi City.

The House of Representatives, in a special joint session in July 2017, granted the extension of martial law until December 31, 2017, at the President’s request.

The Senate and House of Representatives, convening in a joint session early December of that year, granted Duterte’s request for the extension of martial law and the suspension of the privilege of the writ of habeas corpus for a period of one year from January 1 to December 31, 2018. PNA

Elected officials should submit themselves to regular elections, Namfrel exec says

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HE National Citizens’ Movement for Free Elections (Namfrel) on Wednesday underscored the importance of elected officials submitting themselves to regular elections to receive a fresh mandate from their constituents.

The poll watchdog was reacting to the proposed postponement of the Barangay and Sangguniang Kabataan elections (BSKE) to December 2022, which has just been signed into law by President Duterte.

“The reason propounded for

moving the election date was to give village and youth council officials more time to implement their projects. While the reason has some validity, incumbent elected officials have to submit themselves to the people’s mandate through periodic elections,” Namfrel Secretary-General Eric Jude Alvia said in a news statement.

He added: “If constituents are satisfied with their performance, they need not worry about their terms being cut and they can continue on

implementing their respective programs or projects with a fresh and stronger mandate,” Alvia added.

Namfrel had earlier opposed any postponement to the BSKE, saying that doing so will contravene the principle of regularity in the conduct of an election, extend the terms of elected officials without being elected anew, and will deprive the electorate of seeking accountability from elected officials through the ballot.

Namfrel also stressed that elec-

tion dates set by law can be justified only by the presence of certain conditions enumerated in the Philippine Omnibus Election Code, such as violence, terrorism, loss or destruction of election paraphernalia or records, and force majeure, and that it is the task of the Commission on Elections (Comelec) to make such determination through public hearings. According to Namfrel, none of these conditions exist, and no such consultations with the voting public ever took place.

The newly signed law lifts the uncertainty to the conduct of the elections on May 2020, as originally scheduled, and alleviates the Comelec and related stakeholders from expending unnecessary resources in their preparation. However, the postponement consequently extends the terms of village and youth officials by another two-and-a-half years, well past the presidential/ national elections on May 2022.

Namfrel warns that this could lead to the politicization of the baran-

gays and SK, and that they could be utilized for the campaigns.

Duterte on Tuesday night finally signed into law postponing the 2020 BSKE. Under the newly signed Republic Act (RA) 11462, the conduct of the next BSKE was reset from May 11, 2020, December 5, 2022.

Once it takes effect, the law will effectively extend the terms of office of the incumbent SK and barangay officials, who were elected in the May 2018 elections. Samuel P. Medenilla

A4 Thursday, December 5, 2019 • Editor: Vittorio V. Vitug

Economy BusinessMirror

Gatchalian: NGCP must hold IPO to ease jitters on security

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By Butch Fernandez

@butchfBM

UESTIONS over transparency in operations and national security aspects of the National Grid Corp. of the Philippines’s (NGCP) deal with a state-owned Chinese firm have drawn attention once more to the delayed initial public offering (IPO) of the country’s sole power transmission company.

Fielding questions about the delayed IPO of the NGCP, Senate Energy Committee Chairman Sherwin Gatchalian said on Wednesday the IPO is in fact “one of the safeguards” that could ease apprehensions about NGCP “because allowing the public to participate up to 20-percent equity of this company will improve the government’s structure of this operator, meaning, [the] public can participate in the governance, as well as look at the books and operations closely.”

The senator stressed, in an interview with ANC, that “this is really one of the most important feature of this franchise—that the public should participate—and I would strongly suggest that NGCP should pursue its initial public offering, and I would like to strongly suggest also the government takes a share, a stake in this IPO, so that [the] government will be well represented in the board.”

This, even as he suggested that the government should also be able to “regularly engage the decisionmakers of NGCP insofar as national security is concerned, insofar as public issue is concerned.”

Reminded that this was way past their initial deadline set for January this year, Gatchalian noted that NGCP had sought an extension from Energy Regulatory Commission, citing its current disputes with Transco as basis for delaying the IPO. “And my view on this [is], the IPO should be pursued, the market will factor in all of these issues surrounding the IPO. The market is well aware of the concerns and the arbitration happening surrounding NGCP, so let the market factor in and price all these through the IPO.” The pending arbitration case between Transco and NGCP “is a commercial matter between them,” the senator noted, adding, “...but

my view here is national security takes precedence over commercial items, commercial matters and because of this national security issue, the IPO should proceed.”

As far as he is concerned, added Gatchalian, “The IPO will enable the government to participate, enable the public to participate and this participation will improve transparency, and this is what we need in the management and also in the scrutiny of NGCP.” The Senate’s Energy committee chairman said “the safeguards are already in place, we have to implement the safeguards, one of which is the IPO,” as it allows the “government and the public to scrutinize closely NGCP and its operations.”

Gatchalian added that “it also gives it a greater sense of transparency if they offer their shares to public. What’s important now is to implement those safeguards because without implementing those safeguards, everything will be in futile.”

Asked how these issues affect the NGCP’s development plans, Gatchalian asserted that “what is important right now is government exercising its check and balance role,” suggesting that the “NGCP should allow government to go deeper into the inspection—not only superficially inspect the facilities of NGCP, but also allow it to go inside the facilities, look at the facilities at the Scada system...because the Scada system is the system that can enable remote control and management of this facility.”

Transmission devt

AT the same time, Gatchalian affirmed that the transmission de-

velopment plan is “a very important document that lays out plans of the transmission operator, meaning where the transmission lines are to be put up? What are the transmission lines that we need to upgrade?”

This, he said, is intended “to improve the flow of electricity from the different islands of the country.

It is important that we continuously maintain, upgrade and expand the transmission lines because this will enable efficient flow of electricity to our household and to our businesses.”

However, he admitted that “we also received documents that said that a lot of the investments were in fact delayed, 33 important projects were already delayed under the transmission development plan.”

According to Gatchalian, “a delay in the rollout of this transmission facilities will also delay a lot of the power plants that will go into the system. Even though we have a lot of power plants going into the system, but if we don’t have enough capacity in the transmission lines or if the transmission lines will not be put up, then we will have problems with electricity shortage.”

Asked what was causing those delays, the senator explains there were “various reasons and that is what we want to go deep into, we want to hear valid reasons, not only reasons that are made up out of thin air, but what we want to analyze is, how come the transmission development plan is not being carried out to its mandate? We want to also look at the penalties that should be put forth if ever the transmission development plan is in fact delayed.”

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PHL, Japan execs hold ninth ‘BBB’ meeting in Hakone on Friday

By Jove Moya

@BMJoveMoya

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HE country’s top economic officials, together with Dr. Hiroto Izumi, special adviser to the Prime Minister of Japan Shinzo Abe, are set to hold a high-level meeting in Hakone, Japan, to discuss the progress of the national government’s infrastructure projects that are being implemented with funding support from Tokyo.

Fi n a nc e S e c re t a r y C a r lo s Dominguez III and Socioeconomic Planning Secretary Ernesto Pernia will lead the Philippine delegation for the meeting set on Friday, December 6, 2019.

The meeting in Hakone of the Japan-Philippines Joint Committee on Infrastructure Development and Economic Cooperation will be the ninth such dialogue between the two countries.

The first meeting was convened in March 2017 at Kantei, the Prime Minister’s Office in Tokyo, Japan, and the most recent, or eighth, held at the Marriott Hotel in Clark, Pampanga.

According to Dominguez, the regular meetings between the Philippines and Japan is part of the “fast and sure” approach adopted by the two countries to ensure the smooth and swift implementation of the Japanfunded projects under President Duterte’s “Build, Build, Build ” (BBB) infrastructure modernization program.

A clear demonstration of this “fast and sure” approach was the

signing of 10 loan agreements between Manila and Tokyo since President Duterte assumed office in June 2016, Dominguez said.

Several of these agreements involving infrastructure projects, said Dominguez, were each processed and approved in a short span of three to four months.

The loan agreements include the Phase 2 for Maritime Safety Capability Improvement Project for the Philippine Coast Guard; Harnessing Agribusiness opportunities through Robust and Vibrant Entrepreneurship Supportive of peaceful Transformation; Cavite Industrial Area Flood Risk Management Project; Bulacan Arterial Road Bypass Project; New Bohol Airport Construction; Metro Rail Transit Line 3 Rehabilitation; Pasig-Marikina River Channel Improvement; North-South Commuter Railway Extension; Metro Manila Subway Project, which is the single biggest venture under the BBB program; and Road Network Development Project in Conflict-Affected Areas in Mindanao.

As of this writing, Japan remains to be the top provider of Official Development Assistance loans and grants totaling $8.26 billion [46-percent share of the country’s total ODA loan portfolio].

It is also the Philippines’s fourthlargest source of tourists, with over 631,000 Japanese having visited the country in 2018. Last year’s arrivals from Japan grew 8.15 percent over the same period in 2017.

GSIS, SSS assure emergency Duterte approves ₧10,000 SRI for government workers loans for Tisoy victims

By Bernadette D. Nicolas @BNicolasBM

T

HE state-run pension fund Government Ser vice Insurance System (GSIS) and Social Security System (SSS) on Wednesday assured that loan assistance will be offered to members and pensioners in areas affected by Typhoon Tisoy (international code name Kammuri).

At a news briefing in Malacañang, GSIS Vice President for Visayas Operations Joseph Philip Andres said an Emergency Loan Program will soon be available to GSIS members and pensioners in typhoon-affected areas.

Andres said members and pensioners may borrow P20,000, payable in three years in equal monthly installments with an 8-percent interest rate.

They may apply for the loan after presenting a declaration of being under a state of calamity by the Sangguniang Panlalawigan/Panglungsod and/or the National Disaster Risk Reduction and Management Council (NDRRMC), he added.

Currently, he said members and pensioners have yet to apply for a loan since the typhoon made a landfall only on Tuesday night.

Entitlement of members and pensioners is if the calamity happens within three months.

“Kunwari si [For example] Tisoy, from now until three months after puwede siya maging [it can serve as] basis na [of] declaration of that calamity and as basis for the granting of that loan,” Andres said.

Members and pensioners not within the calamity-hit areas, may avail of the GSIS Financial Assistance Loan (GFAL).

On the other hand, SSS Member Loans Department Acting Head Boobie Ocay said SSS members may soon apply for Calamity Loan Assistance Program (CLAP).

Ocay said under CLAP, qualified members may be granted a loan amount equivalent to their respec-

tive average monthly salary credit, which is computed based on the average of the last 12 MSCs. The loan amount will be payable in two years in equal monthly installments and has an interest rate of 10 percent per annum.

“Makiki-coordinate kami sa NDRRMC for the declaration ng state of calamity kasi usually sinisigurado namin ’yung area ay talagang nakalamidad so may basehan kaming official bago kami mag-offer ng Calamity Package sa area na ’yun [We coordinate with the NDRRMC for the declaration of state of calamity because we have to make sure an area is calamity hit so we have basis before we offer Calamity Packages in the area],” Ocay said in a media interview.

She said the ongoing Calamity Package is available for members affected by a series of earthquakes that hit Mindanao in October.

Aside from CLAP, the SSS also offers two other programs, the three-month advance pension, and Direct House Repair and Improvement Loan.

Section 16 of Republic Act 10121 gives the power to declare an area or areas under a State of Calamity to the President of the Philippines or to the local government units upon the recommendation of the NDRRMC, or their local counterparts known as the Local Disaster Risk Reduction and Management Council, respectively.

Once under state of calamity, citizens of that area are granted the opportunity to apply for a loan from the government.

According to the Philippine Atmospheric, Geophysical and Astronomical Services Administration, Typhoon Tisoy is forecast to exit the Philippine Area of Responsibility between Wednesday night and Thursday morning, and is expected to continuously weaken due to the northeast monsoon. PNA

P

RESIDENT Duterte has authorized the grant of a one-time service recognition incentive (SRI) worth P10,000 each for qualified government employees.

In signing Administrative Order 19 last December 2, the President directed the release of SRI to all qualified government employees not later than December 20, 2019, since “government employees deserve to be rewarded to recognize collective and unceasing participation in and invaluable contribution to the administration’s continuing efforts toward the establishment of streamlined government processes and more responsive delivery of

public services.”

The AO was issued following the Department of Budget and Management’s recommendation to update the policies on, and levels of, incentives applicable to all government personnel through the grant of SRI as a way to recognize and further encourage the unwavering commitment and dedication of government employees in performing their work.

The SRI may be granted to the employees of all branches of national government, as well those in the local government units and local water districts.

However, the grant of SRI shall be subject to certain conditions.

These include: a) The civilian personnel are oc-

cupying regular, contractual or casual positions; b) The personnel are still in the government service as of November 30, 2019; c) The personnel have rendered at least four months of service as of November 30, 2019; d) Employees who have rendered less than four months of service as of November 30, 2019, shall be entitled to a prorated share of the SRI; and e) The employees have not received any additional year-end benefit in FY 2019 over and above the benefit authorized under Republic Act 6686, as amended by RA 8441.

Excluded from the grant of SRI are those who are engaged without an employee-employer relation-

Declare state of climate emergency in Philippines, group urges Duterte

By Manuel T. Cayon

D

@awimailbox Mindanao Bureau Chief

AVAO CITY—President Duterte has been asked to declare a state of climate emergency in the country, and to hold accountable companies that still manufacture and distribute fossil fuels and push climate urgency at the center of his administration’s decision-making.

The environmentalist group, Greenpeace Philippines said Typhoon Tisoy (international code name Kammuri) was the 20th typhoon to hit the country this year, “highlighting how the Philippines is among the most vulnerable to severe weather and its impacts, with Filipinos again under threat from extreme rainfall, flash floods and landslides.”

“As it lashes [in] the Philippines, forcing tens of thousands of Filipinos to flee their homes, Greenpeace Philippines has today launched an open letter addressed to President Rodrigo Duterte urging him to declare a climate emergency,” it said.

“We call on President Rodrigo Duterte to make a climate emergency declaration in the form of an executive order that ensures climate change and its impact on the lives of Filipino people is a top government priority,” it added.

The declaration should contain the following actions: put climate urgency at the center of all policy decision-making from a local to national level; hold fossil-fuel companies accountable for their role in driving climate change and inflicting harm on the Filipino people; demand other countries, particularly industrialized nations, to enhance their emissions reduction ambitions in order to meet the Paris Agreement’s aim to limit global temperature rise within 1.5 degrees Celsius; ensure the Philippines’s rapid and just transition to a low-carbon pathway through a massive uptake of renewable-energy solutions; and phase out coal.

It said the Philippines has been facing this climate emergency for decades now, “with millions across the country left to suffer the catastrophic effects of extreme weather, made stronger and more deadly by climate change.”

“Year after year, Filipinos are identified among the most impacted globally by this crisis, an emergency situation made worse by the big polluters, fossil-fuel companies who have lied and covered up about how their operations have been driving the climate crisis and who have been raking in trillions in profits at the expense of millions of people who suffer from its impacts,” said Lea Guerrero, country director of Greenpeace Philippines.

ship, and whose compensation is not funded from Personnel Services appropriations/budgets.

These include consultants and experts engaged for a limited period to perform specific activities or services with expected outputs; laborers engaged through job contracts and those paid on piecework basis; student workers and apprentices; and individuals and groups whose services are engaged through job orders, contracts of service or others similarly situated.

The DBM shall issue supplemental guidelines to implement the order, as may be necessary.

The order shall take effect immediately following the complete publication in the Official Gazette or in a newspaper of general circulation.

Bill lowering retirement age in govt to 56 gets House 2nd-reading okay

T

HE House of Representatives on Wednesday approved on second reading a measure lowering the optional retirement age of government employees from 60 to 56.

Voting via voice vote, the Lower Chamber passed House Bill 5509, which seeks to amend Section 13-A of Republic Act 8291, otherwise known as the “Government Service Insurance System [GSIS] Act of 1997.”

Government workers who have reached the age of 56 years may file for retirement and be entitled to an old-age pension for life from the GSIS. ACT Teachers Party-list Rep. France Castro, principal author of the bill, said earlier retirement is one of the demands voiced during consultations with public-school teachers.

Castro noted that teachers in the Philippines retire five years later than those in most countries, noting that retirement age is 60 in most North American, European and Asian countries.

“Respect and humane consideration demand that a person of 56 years—a few years shy of being a senior citizen—should not be required to perform the arduous functions expected of a public-school teacher in the Philippines. At such stage of their lives, publicschool teachers should at least be given the choice if they wish to rest from the profession and enjoy better and healthy years ahead,” Castro said. PNA

BusinessMirror Special Feature

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Thursday, December 5, 2019 A5

NSJBI TO BUILD VALENZUELA CITY’S FIRST HIGH RISE CONDOMINIUM

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By Stephanie Joy Ching

ITH over 620,000 people living in it, Valenzuela City is the thirteenth most populous city in the Philippines. With around 59,000 of the population renting their homes, and 19,000 living “rent-free” (living with relatives), the team at New San Jose Builders Incorporated (NSJBI) saw it fit offer an affordable and luxurious living space in the area that will cater to everyone’s needs.

Soon to rise on the lot along McArthur Highway, just across from Fatima University, is one such space-the Victoria de Valenzuela.

Named after the chairman’s daughter, the Victoria de Valenzuela is a forty-eight storey, 2,046.039 sq.m building that features three commercial floors. It will be the first high rise in the area, with fifty 22 sq.m units on each floor and nine floors of parking. According to Victoria de Valenzuela’s sales head Mario David, the commercial floors will house a state of the art gym, water spa,

penthouse, fifty meter pool and many more. These amenities use the best technology available and is currently being endorsed by Senator Manny Pacquiao. Other areas of the building will also include a small grocery store, spa, food stores and even a coffee shop where students can study and relax. If one gets bored, SM Valenzuela is just a short walk away, cutting down the hours spent stuck in the Manila traffic. All of the amenities will be open for a one year membership to students, tenants and unit owners alike, forming a

place where a balanced lifestyle is just a couple of f loors away.

Furthermore, with the upcoming Bulacan Airport just a short drive away, travelling to other parts of the world will also be much more accessible.

The Victoria de Valenzuela

is also currently the most affordable pre-selling unit available in the market, at only 9000 PHP per month for the 20% down payment. The other 80%, meanwhile, is loanable depending on the buyer’s preference.

By learning to adjust and adapt

to what different buyers want, the NSJBI is able to deliver with tireless dedication to building affordable dream homes for people long before they even receive their units.

Another testament to NSJBI’s dedication is the ability for future unit owners at Victoria de Valenzuela to combine certain pre-selected units. Knowing that some owners might need more space than others, this feature gives the unit owners freedom to tailor fit their new home according to their needs. Mr. David also described the property as “self-liquidating”, which lets unit owners earn savings through bank amortization. Truly, the team at NSJBI has done painstaking

research on their market, and it shows in their products.

The project is expected to break ground very soon, with construction expected to be finished within five years.

MARIO DAVID | Sales Head

A6 Thursday, December 5, 2019 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

DepEd, we have a problem…

F

IRST, the good news. According to the Functional Literacy, Education and Mass Media Survey of 2013, some 96.5 percent of Filipinos were literate, an improvement from 95.6 percent in 2008. The survey said almost all Filipinos, 10 years old and above, were basically literate, while 9 out of 10 Filipinos 10 to 64 years of age were functionally literate. Being literate is defined as being able to read and write text. If a person has this ability with the further addition of numeracy skills, then one has attained a significantly higher level of literacy called “functional literacy.”

Now, the bad news. Among 79 participating countries in the 2018 Programme for International Student Assessment, the Philippines scored the lowest in reading comprehension based on results globally released on Tuesday, December 3. PISA is a worldwide study by the Organisation for Economic Co-operation and Development that examines students’ knowledge in reading, mathematics and science. Reading was the main subject assessed among 15-year-old students in the 2018 PISA. The Philippines had an average reading score of 340, or 215 points below China (555), and more than 100 points less than the OECD average of 487.

The OECD tested around 600,000 15-year-old students in 79 countries in 2018 through the PISA, and results showed that 1 in 4 students is unable to complete even the most basic reading tasks. OECD said that this could mean these students may struggle in their lives while living in a digital world. Unfortunately, PISA results revealed that the Philippines scored the lowest among the countries surveyed.

“Reading proficiency is essential for a wide variety of human activities— from following instructions in a manual; to finding out the who, what, when, where and why of an event; to communicating with others for a specific purpose or transaction,” said OECD, adding that “PISA recognizes that evolving technologies have changed the ways people read and exchange information, whether at home, at school, or in the workplace.” The cities of Beijing, Shanghai, Jiangsu, and Zheijang in China topped all the categories, followed by Singapore.

“Results from PISA indicate the quality and equity of learning outcomes attained around the world, and allow educators and policy-makers to learn from the policies and practices applied in other countries,” said OECD. The survey suggested that interventions should be made to the students of countries, like the Philippines, where relationship between a student’s socioeconomic status and performance is strong.

A Department of Education (DepEd) statement released on Wednesday said: “For the first time, the Philippines joined the Programme for International Student Assessment of the Organisation for Economic Co-operation and Development in 2018, as part of the Quality Basic Education reform plan and a step toward globalizing the quality of Philippine basic education. By participating in PISA, we will be able to establish our baseline in relation to global standards, and benchmark the effectiveness of our reforms moving forward.

The PISA results, along with our own assessments and studies, will aid in policy formulation, planning and programming.”

The statement added: “With the PISA results also reflecting the learners’ performance in the National Achievement Test, DepEd recognizes the urgency of addressing issues and gaps in attaining quality of basic education in the Philippines. DepEd will lead this national effort for quality basic education through Sulong Edukalidad by implementing aggressive reforms in four key areas: (1) K to 12 review and updating, (2) Improvement of learning facilities, (3) Teachers and school heads’ upskilling and reskilling through a transformed professional development program; and (4) engagement of all stakeholders for support and collaboration.”

We are happy to hear that our education officials know there is a growing problem among the youth as far as reading proficiency is concerned. We hope that from now on, DepEd will not just give books but help foster a love of reading, especially in grade school. Educators need to embed literacy training that will lead to a deeper understanding of the things being read. Students need to understand what they are reading. That’s the foundation of good communication.

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A brief look toward 2020 John Mangun

OUTSIDE THE BOX

O

NE more time. Bad economic policies lead to political upheaval, which then becomes economic chaos. It is a cycle that has repeated itself for at least two millennium. The more things change, the more they stay the same.

In last Sunday’s scripture reading in the Roman Catholic Church, it spoke of a man that if he knew his house was going to be robbed, he would have been prepared. “If the owner of the house had known at what time of night the thief was coming, he would have kept watch and would not have let his house be broken into.”

What I found interesting is that we think of this sort of event as a modern phenomenon, as if the old days were filled with peace and harmony. And yet, here is a story from some 2,000 years ago that addresses exactly the same situation that we face today. The more things change, the more they stay the same.

The Beijing government used Hong Kong like an abused carabao

for two decades, both politically, and more importantly economically. The Hong Kong dollar is pegged to the US dollar and with HK being a major tourist and shopping attraction, it helped the mainland acquire seed money 20 years ago to help build all those factories that flooded the world with goods.

Foreign companies were able to do business with “real China” through HK without visibly getting their fingers dirty paying off Chinese public and private corruption.

When it was to Beijing’s advantage to have ‘secret’ money flow out of the mainland, HK was a good place to launder funds for overseas investment that western countries might have frowned upon if it came from real Chinese corporations. On the

Next year will see the major central banks and most governments give up on fixing their economies. Then the economic chaos will begin with a vengeance. The political chaos will continue to spread to nations considered safe from that problem as the economic chaos also spreads. way out, HK made a “commission.”

In those good old days when HK’s economy was growing by 8 percent, oddly enough there were no protests about “freedom.”

And then when it became necessary to curtail that money flow, Beijing put the financial screws to HK. HK economic growth dropped to 4 percent. Perhaps realizing the freewheeling good old days had come to an end, political chaos ensued. HK will be in recession by the end of the month and it will take several quarters at least to recover.

Bad economic policies lead to political upheaval, which then becomes economic chaos.

These countries are experiencing mass protests. A year ago Bolivia’s growth was 5.23 percent, now down to 2.84 percent. Chile went from 5.3 percent to the latest 3.3

percent after two quarters of less than two percent. Lebanon’s GDP growth is down 60 percent from 2017. Iran’s GDP growth rate was 12.9 percent in 2017 to the current 1.8 percent. In 2017, Iraq’s economy grew at 13.8 percent versus negative -1 percent in 2018. The European Central Bank has decided, “The bank would incorporate the climate threat into both its capacity as watchdog of the financial system” since it has failed on economic policy. European Union economic growth is 1.1 percent while inflation is 1.2 percent. That is negative real growth.

Next year will see the major central banks and most governments give up on fixing their economies.

Then the economic chaos will begin with a vengeance. The political chaos will continue to spread to nations considered safe from that problem as the economic chaos also spreads.

That will not be a pretty sight. Of course, watching from a country with low inflation and 6- percent growth, laughing might be considered rude even if appropriate.

E-mail me at mangun@gmail.com. Visit my web site at www.mangunonmarkets.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis tools provided by the COL Financial Group Inc.

This Philippine city is the most typical place in the world

I

By Tyler Cowen | Bloomberg Opinion

’VE long wondered what might be the most typical place in the world, and I believe, I now have an answer. It is Cebu, the second-largest city in the Philippines, from which I have just returned.

What do I mean by the world’s most typical place? On a variety of measures—economic, demographic and cultural, to name a few—Cebu is remarkably representative of the world as a whole.

First, the most typical place should have an income not too far from the world’s median. According to Gallup, world median household income was almost $10,000 in 2013 (though it is by now somewhat higher). The average family income in the Philippines is about $5,340 at current exchange rates, but as a major city Cebu is richer, and at any rate life is especially cheap in the Philippines.

The world’s most typical place also should have a fairly high degree of income inequality, and Cebu does. There are gleaming shopping malls and skyscrapers, but also considerable poverty.

As for its economy, Cebu is a major center for business outsourcing, such as call centers, and thus has a close relationship with the global technology industry. Those tech ties will become

increasingly typical, even if they are not quite the dominant mode of production in emerging economies. In addition to tech services, real estate, shipbuilding and international trade are important, economically.

Now consider some noneconomic factors. What is the world’s most important and widely spoken language? English. Along with the native Cebuano and Tagalog, English is widely spoken in Cebu, and present on most of the signs. And what about religion? Christianity registers as the most common religion in the world, and the dominant religion in Cebu is—you guessed it—Christianity.

Islam, Hinduism and various native religions are also represented, as well as variants of folk Catholicism and folk Islam, mirroring the syncretic nature of religious belief in so many other countries.

Asia is the world’s most populous continent by far, and the Philippines (of course) is in Asia. Score another point for the typicality of Cebu. Yet, there are also Spanish and Spanish colonial influences, and at times I

As for its economy, Cebu is a major center for business outsourcing, such as call centers, and thus has a close relationship with the global technology industry. Those tech ties will become increasingly typical, even if they are not quite the dominant mode of production in emerging economies. In addition to tech services, real estate, shipbuilding and international trade are important, economically.

felt like I was in Latin America more than Asia. That broadens the global connections of Cebu.

Also notable is Cebu’s North American heritage, as the Philippines was a de facto US colony from 1898 to 1935. The native culture is still very much its own, but there are more superficial markers of US cultural influence in Cebu, and in the Philippines more generally, than in almost any other emerging economy. There are lots of fast-food restaurants, American casual dress is widespread, and basketball is much beloved.

What else? Most of the world’s population now lives in cities, and Cebu is the second-largest metropolitan area in the Philippines. The largest, Manila, was an obvious rival for the world’s most typical place, but it is a little too big and too central to

the governance of the Philippines to be my first choice. If you look at such populous nations as China, India, Indonesia and Pakistan, most of their urban populations do not live in the country’s single-largest city, nor do they live in its capital. So Cebu is a nice compromise in this regard, with a 2015 estimate putting the region’s population at almost 3 million.

One nice feature of Cebu is that, like most of the Philippines, it has been growing rapidly. Parents can plausibly expect their children to have much better lives. This hope is typical of most of the world, too.

I wouldn’t say that Cebu has many tourist sites that are major draws for the foreign visitor, although you can see where Ferdinand Magellan died on nearby Mactan Island, and there are wonderful beaches and aquatic activities. Some tourism—but not too much—also seems pretty typical.

Along the lines of this inquiry, I’ve also wondered who is the world’s most typical human. Such a concept is hard to pin down, but might it be someone who lives in Cebu? Although the median age in the Philippines is 23.5, for the world as a whole it is about 30. I, therefore, nominate a 30-year-old Cebu mother as the epicenter of human existence.

In any case, one thing is for sure: The most typical place in the world is by no means the least interesting.

Opinion BusinessMirror

www.businessmirror.com.ph

Thursday, December 5, 2019 A7

Palay production crisis: A battle of development frameworks Dr. Rene E. Ofreneo

LABOREM EXERCENS

A

NATIONAL day of protest against the Rice Tariffication Law was held on November 20 by a huge coalition of peasant unions, Party-List groups, civil society organizations and sympathetic cause-oriented formations. Their unified demand: suspend and repeal RTL to stop the downward spiral of palay farm-gate prices below production cost. Their collective warning: The domestic rice industry is collapsing and exacerbating mass poverty and hunger in the countryside.

In response, President Duterte immediately announced the government’s intention to suspend the RTL, dubbed by the farmer organizations as rice trade liberalization law. And yet, within the week, Malacañang reaffirmed its support for the law to the delight of the country’s economic technocrats, principally from the National Economic and Development Authority (Neda) and Department of Finance (DOF). Accordingly, the affected palay farmers shall instead receive credit, seed, mechanization and other forms of assistance, including conditional cash transfer.

The administration also asked the National Food Authority and select LGUs to increase domestic palay

procurement, which, ironically, is the exact opposite of what the RTL is trying to promote, that is, for the NFA to get out of the market and do nothing else but simple “buffer stocking.”

Those who participated in the November 20 protest action are angry.

They have vowed to continue with their campaign for the suspension/ repeal of the RTL and the overhaul of what they see as the subversion of the whole agricultural sector under the “agricultural deregulation” policy, a policy that has been in place since the 1980s (introduced by the IMF-World Bank’s “structural adjustment program” or SAP, and has been reinforced by the Philippine

liberalization commitments to the World Trade Organization made in 1994-1995.

On the other hand, the economic technocrats and their neoliberal supporters from the academe are firm in their belief that the RTL and other agricultural deregulation/ SAP measures will strengthen the rice sector by making the domestic palay producers more efficient and competitive. Accordingly, RTL, by opening rice production to global competition, shall help unleash agricultural productivity and modernize the slumbering agricultural sector.

It is clearly a battle of opposing development frameworks between two camps—the camp that espouses national agricultural sovereignty and food sufficiency (Sovereignty Camp) and the camp that seeks agricultural modernization via integration in the global market (Globalization Camp).

Both seek the overall upgrading of the agricultural sector and, yet, differ on how this can be approached.

Below is a quick summary of where the two camps stand on three issues of agricultural development.

On food security

TO the Globalization Camp, food security means “market accessibility.” Their thinking: market liberalization leads to the circulation of cheaper goods, which, in turn, prompts producers to become more

efficient in order to compete. Additionally, food security means having ample supply of food on the table wherever it is produced. Hence, part of food security is having disposable income needed to import such food.

Prime example: Singapore, which is food-secure and yet has no agricultural land.

To the Sovereignty Camp, food security means self-sufficiency and sovereignty of the people and farmers to determine development priorities. Self-sufficiency is also critical in palay production because the global rice market is a thin market (roughly 10 percent traded globally), which means production setbacks in Vietnam and Thailand can trigger a full-blown rice shortage in rice-deficient Philippines.

On government support and subsidies

THE Globalization Camp detests subsidies and price assistance to producers. This is the primary reason why, through the years, the NFA, once a giant government corporation, has been the subject of budgetary downsizing and reduction of its role in the cereal, wheat and other food markets. The downsizing culminated in the passage of the RTL, which removes wholesale the regulatory functions of NFA. The Sovereignty Camp cites how

Govt legal goofs boost Manila Water, Maynilad bottomline Val A. Villanueva

BUSINESSWISE

Y

EARS ago, to justify her ostentatious lifestyle, Imelda Romualdez Marcos declared that the Philippines is “a rich country pretending to be poor.”

Sarcastically, I say, yes. Just take a brief historical review on how previous and the present governments had squandered taxpayers’ money due to legal ineptitude.

Consider these: Bataan Nuclear Plant—After the collapse of the Marcos dictatorship, the $2.3-billion, 621-megawatt Bataan Nuclear Power Plant was mothballed in 1986 by the government of the late Corazon Cojuangco Aquino due to safety and corruption concerns. In October 1995, Aquino’s successor, President Fidel Ramos, agreed to a $100-million settlement with Westinghouse which mandated the Philippines to pay the US company $300,000 in daily interest alone.

Ramos in 1993 lost the bribery, fraud and racketeering suits his government filed against Westinghouse Electric Co. and New Jersey company Burns and Roe for conniving with former strongman President Ferdinand Marcos and his crony Herminio Disini in the construction of the power plant. After spending a total of P64.7 billion—P43.5 billion for principal amortization and P21.2 billion in interest—for 21 years, the power plant has not generated a single watt of electricity.

Laguna Lake Rehabilitation— The International Centre for Settlement of Investment Disputes (ICSID) ordered the Philippine government to pay P800 million to Baggerwerken Decloedt En Zoon (BDC) for scrapping the P18.7-billion Laguna Lake Rehabilitation Project (LLRP) in 2011. The award was issued on January 23, 2017, six years after former President Benigno S. Aquino III

junked the deal that was twice declared by then-Justice Secretary Leila M. de Lima as “legal and binding.”

The project was originally crafted to dredge the 94,900-hectare Laguna de Bay and deepen its average depth of 2.5 meters, and called for the creation of navigational channels in the waterway, which has Class C water quality deemed to be inappropriate for human consumption.

Piatco—In November 2018, the government lost its bid before the Court of Appeals to compel the Philippine International Air Terminals Co. Inc. (Piatco) to pay the amount of $6 million, or more than P300 million, representing the cost of the arbitration proceedings before the International Chamber of Commerce (ICC) International Court of Arbitration.

In a three-page resolution penned

by Associate Justice Ramon M. Bato Jr., the CA’s former Special Eleventh Division held that the government, through the Office of the Solicitor General (OSG), failed to raise new arguments that would warrant the reversal of its June 4, 2018, amended decision. The appellate court, in its amended decision, reversed its order for Piatco to pay the government $6 million in arbitration.

Malampaya—In March this year, with a unanimous vote of 3-0, the operator of the multibillion Malampaya gas field project led by Shell Philippines Exploration BV won its landmark $1.1 billion (approximately P53 billion) tax case before the ICC in Singapore. Voting in favor of the Malampaya consortium had been designated arbitration Chairman Yves Fortier, SPEx-led

consortium arbitrator David Williams, and Philippine arbitrator and former Supreme Court Chief Justice Reynato S. Puno.

I could go on and on. Consider how the aggravating dismissal of nearly all the graft and corruption charges against the Marcoses and their cronies means a loss of billions of pesos for the country, represented by both previously recovered and still-to-be-claimed ill-gotten wealth.

It would take probably more than six full pages of this paper to document all of the government’s legal mortifications.

Now this—In 2013, Manila Water lost the case it filed before the ICC questioning the Metropolitan Waterworks and Sewerage System (MWSS) for slashing its basic charge of P25.07 per cubic meter by 29.47 percent, a reduction of P7.25 per cubic meter for the rate rebasing period of 2013 to 2017. The arbitration panel ruled that Manila Water is a public utility and, therefore, cannot pass on its corporate income tax to consumers. But from the same court, Maynilad was able to secure a favorable ruling. The ICC appeals panel upheld Maynilad’s alternative rate rebasing adjustment which would result to a 9.8-percent increase in the 2013 average basic water charge of P31.28 per cubic meter, inclusive of the P1 currency exchange rate adjustment that the MWSS incorporated into the basic charge. What kind of legal gobbledygook is this? How could the same court hand conflicting edicts? Could it be that Maynilad got the “right” lawyer?

Just recently, however, the Singapore Arbitration Panel ordered the MWSS to pay Manila Water P7.4 billion for refusing the concessionaire’s demand to increase water rates in 2015. This follows a favorable July 2017 ruling the Lopez-owned Maynilad Water Services Inc. got from the Singapore court that the government owed it P3.42 billion in compensation for the delayed implementation of upward tariff adjustment for the rebasing period of 2013 through 2017 (Note that Maynilad still elevated its case for arbitration

despite its legal victory in 2013. I can only surmise that it did so to ensure compliance by the Philippine government). On why the government failed to raise before the Singapore Arbitration Panel the 2013 ICC ruling that public utilities cannot pass on its corporate income tax to consumers is beyond me.

Clearly, the losers in these recent legal setbacks by the government are the Filipino consumers. The crux of the legal victory by both water concessionaires was the supposed “guaranteed profit” under the concession agreement it signed with MWSS. Whatever you sugarcoat it with, guaranteed profit is plain and simple “sovereign guarantee” which this and the previous governments are supposed to have stricken off in every contract it entered into with the private sector. It is a guarantee given by the state to a private contractor to compensate it if it runs into some financial straits.

Sovereign guarantee compels all of us—whether you are a customer of either Maynilad or Manila Water to make up for each company’s losses through the taxes we pay. This is just crudely appalling, a kick right in the gut of Filipino consumers, especially those living in large swathes of these concessionaire’s service areas still without steady water supply.

Asking Congress to investigate the matter seems futile, given the way that branch of government is being run these days.

A lone voice in the wilderness, House Deputy Minority Leader Rep. Carlos Isagani Zarate, branded the tribunal’s decision as “a mockery and an insult to Filipino, consumers and exposes the ‘tragedy and lunacy of privatization.’” Lawyer Neri Colmenares, Bayan Muna chairman, also backed the proposed inquiry and eventual scrapping of the concession agreements. But we’re a rich nation pretending to be poor, right? The government can just gloss over its legal faux pas, because our coffers are brimming with cash. Geez!

For comments and suggestions, e-mail me at mvala.v@gmail.com

German prosecutors raid Volkswagen offices in diesel probe

By Christoph Rauwald & Birgit Jennen Bloomberg Opinion

V

OLKSWAGEN AG offices were raided by German prosecutors as part of a probe into diesel engines, marking a fresh setback for the manufacturer’s efforts to

draw a line under an emission-tests cheating scandal that erupted four years ago. The search was “directed against individual defendants” and related to diesel vehicles with EA288 engines, VW said on Tuesday in a statement. VW “proactively disclosed the technical facts underlying the allegations to the responsible

investigation authorities and registration authorities at an early stage” and “considers the public prosecutor’s legal opinion and the resulting investigations to be unfounded.”

Volkswagen admitted to US authorities in September 2015 that it cheated on diesel emissions tests, triggering a crisis that has cost the

world’s biggest automobile manufacturer about €30 billion ($33 billion) and counting.

VW said it’s cooperating with the public prosecutor’s office in Braunschweig. The prosecutor’s office wasn’t immediately available for comment. The German transport ministry declined to comment.

governments, worldwide, are providing support to their respective farming populations. The United States has been renewing every five years a US Farm Bill that supports American agriculture, while the European Union has a Common Agricultural Policy that has encouraged overproduction of certain products because of guaranteed price support to the farmers. In Asia, all the big rice producers with limited importations (example: China promotes selfsufficiency with 5-percent imports) maintain a price support system that tries to balance the interest of domestic producers and consumers.

This system is managed by stateowned enterprises.

On roots of rural poverty

THE Globalization Camp traces rural poverty to low productivity and low investments. Hence, the Camp calls for greater investment liberalization and the freer entry of those capable of making the farm or land more productive. They cite the theory of Robert Coase—“let efficient farmers buy out the inefficient ones.” The export-oriented banana industry in Mindanao that has bloomed under the system of contract growing promoted by the multinational banana exporters is cited as a success story under this theory. On rice production, some are even saying that after two or so

years of “production adjustment,” the more efficient ones, in partnership with interested investors, shall prevail and stabilize domestic production.

The Sovereignty Camp counters that after two years of RTL, many of the losing palay farmers would have given up rice farming and would probably have sold their lands to the big land speculators and realtors.

The RTL is seen as another policy that is likely to deepen rural poverty, which is generally blamed on social and economic inequality in the country. The small farmers and landless rural poor have weak or no access to education/HRD, credit, irrigation, market and technology assistance needed to transform farm lands into productive ones. This is compounded by the slow-moving land distribution program under the Comprehensive Agrarian Reform Program. Moreover, after three decades, CARP still has to deliver on the objective of transforming the CARP areas into progressive agroindustrial communities.

From the foregoing, it is abundantly clear that the two camps supporting and opposing the RTL take diametrically opposite positions on how to save a failing rice industry and a comatose agriculture sector.

The question: Saan papanig ang mga mambabatas—sa mga globalizers o sa mga magsasaka?

A voice crying ‘repent!’

Msgr. Sabino A. Vengco Jr.

ALÁLAONG BAGÁ

A

DVENT is lacking if John the Baptizer is not there to guide and lead us. He is the voice in the wilderness crying out: “Prepare the way of the Lord, make His paths straight.”

A personification of the message

JOHN seems to have just appeared in the wilderness of Judea. The setting is of importance: in the desert outside the towns and villages, he makes a call for the people to purify their hearts, return to essentials, confront their inner demons, go beyond their present mindset and allow a new mindset to drive them to new actions. With this repentance (metanoia), they shall be open to the coming kingdom of heaven, for only the repentant will see and reach for the reign of God. John’s appearance recalls Elijah (1 Kings 1:1-18) passionately faithful to Yahweh and boldly challenging any king breaking the covenant with God. He is what he eats: locusts symbolizing divine judgment that John announces without fear, and honey indicating the sweet fulfillment in God’s love.

John is called the Baptizer because he leads the people to the one who is coming by actually baptizing and washing them clean with water at the Jordan. This is in the concrete, the task of clearing a path for the arrival of someone deeply desired, through a baptism of repentance confronting one’s sinfulness and trusting in the divine mercy. The people are attracted by the promise of fulfillment in repentance, as they acknowledge their sins that block them from God and their neighbors. But there are those who wish to undergo John’s baptism as insurance against divine wrath but without honest repentance, doing the external ritual without inner change, their hearts remaining untouched. Change in behavior, fruits of repentance, is proof of change of heart; not their physical descent from Abraham will open them for the coming kingdom.

A voice we heed today

ADVENT is joining John the Baptizer in the wilderness, so that he can lead us to a saving encounter with God. True repentance, that turning away from the world and turning to God, takes place in the heart where the deepest contact with both God and the world is made. It is God’s plan for His beloved: “I will allure

her; I will lead her into the desert and speak to her heart” (Hosea 2:16).

John’s cry in his desert of purification is an invitation for us all, to join him and listen to God who calls us.

Repentance is but the first necessary step in a process of fulfillment: letting go is so that we can receive, stripping away is so that we can put on new clothing, clearing a path is so that we can be united with the one coming soonest. In the desert of honest self-confrontation and in the chambers of our hearts we can be best with God in a transforming covenantal discovery.

John in the desert calling for repentance this season of Advent wants to lead us to our hearts where God speaks. It is the spiritual center of our being where we maintain conscious contact with God and out of which awareness we live and act. We need to be hearts-on-fire, baptized “with the Holy Spirit and fire” and living our spiritual life out of the awareness of God, our ultimate grounding, present in our midst. But we know our hearts can be hard too, without conscious contact with God, instead camouflaged with self-deceptions and sinful delusions, refusing to examine oneself in truth.

Alálaong bagá, there is no exemption to the divine command to change. The imperative of the desert is change and be purified now; do not delay or play games. The time is now; that is what Advent is all about.

One cannot comply externally only, while remaining unchanged on the inside. Do not delude yourself with automatic privileges; produce or perish. The ax is already on the root of the tree that bears no fruits; the pitch fork is ready to separate the wheat for the barn and the chaff for the fire.

Let us have a heart-to-heart with God in the prayerful silence of a desert away from the madding crowd, by heeding the cry of the voice in the desert crying for repentance this particular Advent season.

Join me in meditating on the Word of God every

Sunday, from 5 to 6 a.m. on DWIZ 882, or by audio streaming on www.dwiz882.com.

A8 Thursday, December 5, 2019

BOC collects ₧2.4B after techl smuggling audit

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By Jovee Marie N. dela Cruz

@joveemarie

HE House Committee on Ways and Means on Wednesday disclosed that the government has collected a total of P2.4 billion from 2017 to 2019 from more than a hundred big corporations and multinational companies called out by the Bureau of Customs (BOC) for technical smuggling after a post audit.

In an interview, Albay Rep. Joey Sarte Salceda, the panel chairman, described the technical smuggling as “corporate corruption.” “These companies are blatantly cheating the government,” Salceda said.

Citing BOC post audit data, Salceda said these smuggling instances happened in the “super green lane” of the Customs bureau. Big companies applied for SGL accreditation for faster processing of imported cargo.

According to Salceda, SGLaccredited firms do not need to undergo documentary and x-ray inspection for each shipment.

“All the 16,000 accredited do not to need undergo inspection under

”Payment does not excuse these big and multinational companies [from our legal actions]. We are definitely studying legal action to ensure other importers are not into it.”—Salceda

super green lane and it turns out that they are doing technical smuggling.

They do not pay the BOC properly, so I recommended to the BOC to review the guidlines for SGL,” he added.

The lawmaker said the Ways and Means Committee will study if these multinational companies v iolated the Foreign Corrupt

PHL reelected to maritime council Manila Water

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HE Philippines was reelected to the Council of the International Maritime Organization (IMO) under Category C for the biennium 2020 to 2021 in elections at the recent 31st session of the General Assembly.

The elections saw 24 countries vie for 20 available seats under Category C, which comprises states with special interests in maritime transport or navigation and whose election to the Council will ensure the representation of all major geographic areas of the world.

Philippine Ambassador to the

United Kingdom Antonio M. Lagdameo, who is also the country’s Permanent Representative to the IMO, said in his statement before the General Assembly that the Philippine candidature is predicated on the country’s unstinting commitment to work closely with the IMO and all member states to achieve the goal of making shipping safe, secure and environmentfriendly. He said the Philippines actively pursues initiatives and policies that focus on the human element in shipping and puts a premium on the skills, compe-

SEVERE TROPICAL STORM "TISOY" {KAMMURI} 380 KM WEST OF SUBIC, ZAMBALES NORTHEAST MONSOON AFFECTING LUZON as of 4:00 pm - December 4, 2019

tency, and well-being of Filipino seafarers who play a vital role in ensuring safe operations on board the ship and on the sea.

The Philippines has the largest number of maritime crew serving the international merchant fleet and has a growing shipbuilding sector, making it the fifth-largest shipbuilding nation in the world.

The Council to which the Philippines has been reelected is the executive organ of the IMO and is responsible for supervising the work of the organization.

See “Maritime,” A2

explains how arbitral ruling came about

P

RIVATE concessionaire Manila Water, under fire for allegedly onerous provisions in its 1997 contract with the government, said on Wednesday it was prompted to seek international arbitration after the government ignored pleas for a rate hike to help it recoup billions of investments to vastly improve water and wastewater services.

Manila Water said it has “diligently discharged its obligations as concessionaire of MWSS [Metropolitan Waterworks and Sewerage Systerm], spending over P166 billion” to improve its services.

“Manila Water would like to state certain facts in the interest of public discussion on the award recently issued by an arbitral tribunal in favor of Manila Water as administered by the Permanent Court of Arbitration. We wish to clarify that the PCA is an internationally recognized intergovernmental organization,” the Ayala-led concessionaire said in a statement.

It recalled how, in 1997, it had heeded the call of the Ramos administration for concession agreements with MWSS to address the water crisis in Metro Manila—something that in turn was traced to the “incapability of the MWSS to maintain viable operations due to technical inefficiencies and enormous financial debts.”

The government then “unilaterally determined the terms of the agreements, which were bidden out on a take it or leave it basis,” Manila Water recalled.

Manila Water said it offered the lowest fee to serve as concessionaire of MWSS, which decided to pay the fee with the water tariff to be collected by the concessionaire.

Manila Water was subsequently awarded the Concession Agreement for the East Zone.

With its P166-billion investment, Manila Water said it installed over 5,500 kilometers of pipes and built two new filter plants, 32 new reservoirs, 113 pumping and booster stations, 40 additional wastewater treatment facilities and five times more sewer network capacity to improve the MWSS facilities in the East Zone.

This, it added, “resulted in the expansion of water service coverage in the East Zone from 67-percent coverage serving around 3 million people to 93-percent coverage serving over 7 million people.

This includes an additional 2 million customers from the poor and marginalized sector, who used to buy vended water in buckets or pails delivered by vendors in pushcarts.

Manila Water services allowed them to save about 90 percent of what they used to pay for water.

See “Manila water,” A2

Business Practices Act both of the US and EU. “Payment does not excuse these big and multinational companies [from our legal actions]. We are definitely studying legal action to ensure other importers are not into it,” he said.

Earlier, Salceda expresed dismay over the Customs’ collection shortfall as its revenue collection is P35.7 billion below 2019 target in the first 10 months.

In particular, Salceda asked BOC to exercise greater surveillance at the Port of Manila with the most dismal deficit at P21 billion—or 25-percent below target of P85.3 billion—and the Manila Interna-

tional Container Port at P20 billion, or 13.1-percent below target of P158.6 billion.

Based on BOC’s report, the Port of Batangas’s collection is 7.1 percent lower than the P136.7-billion target, Port of Cebu’s collection is 6.6-percent below the target of P28.3 billion and Port of Davao is 9.8 percent below the P25.9-billion target.

With this, Salceda said the committee expressed displeasure over the BOC deficit and required the District Collectors of the major ports—Davao, Manila, Manila International Container Port or MICP, Batangas and Cebu—to explain their respective collections before the panel.

D.T.I. STILL HOPES TO GET THAILAND TO HEED W.T.O. RULING ON CIGARETTES

By Samuel P. Medenilla

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@sam_medenilla

HE Department of Trade and Industr y (DTI) on Wednesday announced it will be making a last-ditch effort this month to persuade Thailand, to recognize the World Trade Organization (W TO) ruling invalidating Thai customs and fiscal measures on cigarettes from Manila.

Trade Secretary Ramon M. Lopez said he will personally write a letter this month to his Thai counterpart ,hoping this will convince the Thai government to finally align its policies for cigarettes it imports from the Philippines with that of the WTO. “The general tone is enjoining them to comply with the WTO [ruling]. We all have to subscribe to the rule. Otherwise, we will look into other recourse measures that will be available for us,” Lopez told reporters at the sidelines of the “One Country, One Voice Forum,” in Makati.

He said they will defer any WTO-sanctioned retaliatory measure against Thailand until he receives the response from his Thai counterpart.

While waiting for the reply, Trade Undersecretary Cerefino S. Rodolfo said they are now coordinating with the WTO, as well as studying the recent decision of the Thai court, which found Philip Morris, which sources its cigarettes from the Philippines, guilty of tax evasion.

He said these will become their basis for imposing possible retaliatory measure, which may be in the form of imposing tariffs on some Thai products.

DTI earlier said it is eyeing to slap tariffs on Thai cars to retaliate for Thailand’s resistance to the WTO ruling.

Lopez said they hope it will not reach that point, especially since they consider Thailand an “Asean brother” and a valuable trade partner.

Rodolfo, however, said they will continue to pursue the enforcement of the WTO ruling to protect the interest of the local tobacco farmers and importers it affected.

The Philippine-Thailand trade dispute stemmed from Bangkok’s decision in 2008 to implement customs and fiscal measures on cigarettes from the Philippines.

The government questioned the move before the WTO’s Dispute Settlement Body, which ruled in favor of the Philippines in 2011.

The case remains unresolved up to the present even after multiple failed appeals by the Thai government of the WTO ruling.

Legaspi, 3 other airports reopen after Tisoy hits

A

S Legaspi airport resumed operations on Wednesday, a Philippine Air Force plane landed at the airport following the arrival of two commercial flights from Manila.

This, as engineers from the Civil Aviation Authority of the Philippines (Caap) conducted inspections of the runway and related facilities.

Legaspi control tower officials informed the Caap that the airport’s Runway Threshold Identification Light remains out of operation.

Because of this, Legaspi airtraffic control officials announced that flights would be allowed only based on visual meteorological

conditions. Meanwhile, Masbate Airport is now back in operation, and it accommodated the arrival of Cebgo flight DG6177 from Manila, and the departure of the same Cebgo flight back to Manila early Wednesday morning.

Catarman National Airport is now open and was able to accommodate a PAL Express flight carrying 69 incoming passengers, which arrived at 8:02 a.m. and departed at 8:47 a.m. carrying 68 outgoing passengers.

As of 10:30 a.m. Wednesday, Busuanga Airport in Palawan, has resumed normal operations, welcoming six arriving flights from Manila and Cebu. Recto L. Mercene

News BusinessMirror

www.businessmirror.com.ph

Tribesmen defend SEA Games shooting range project in Subic

Thursday, December 5, 2019 A9

Tisoy death toll climbs to 17; initial crop damage placed at P800M

MAGBUKUN tribal leaders and Sipag officials view the ongoing project at the former EOD area on Sunday. HENRY EMPEÑO

By Henry Empeño | Correspondent

S

UBIC BAY FREEPORT—The Magbukun Ayta tribe, which claims ownership of the land where a shooting range is being constructed for the 2019 Southeast Asian Games, has thrown its full support to the project, calling it a source of tribal pride.

In a news conference called by the Magbukun tribal council with the assistance of the Subic Indigenous Peoples Assistance Group (Sipag) on Monday, Ayta leaders also urged groups who opposed the project to stop making an issue about its location in a protected area.

“Ipinagmamalaki po namin na ang bahagi ng aming ancestral domain ay ginagamit para sa pagdaraos ng SEA Games [We are proud that part of our ancestral land is used for the SEA Games],” said Joseph Salonga, who is Magbukun tribal vice chieftain.

“Masaya po kami na mayroon kaming ambag sa kaganapan [We are happy to contribute to this event],” he added.

The tribal leaders also asked the public to respect their decision to allow the project. “Patahimikin na po natin ang isyu. Huwag ninyong alisin sa amin ang pagkakataong ito [Please stop making an issue about this. Do not take this pride away from us],” Salonga also said.

Salonga, along with Tribal Chief Belinda Restom and eight other Magbukun officials and elders, also issued a news statement pointing out that the former Explosive Ordnance Disposal (EOD) area where the shooting range is being built is part of the tribe’s ancestral domain.

They said the Magbukun tribe has been chosen to implement a conservation and sustainable development plan for the area under a United Nations Development Programme (UNDP).

“Patuloy ang mga katutubo sa pagkalinga ng gubat dahil ito ay pamana sa aming lipi [The indigenous people continue to protect the forest because it is our inheritance],” said Restom.

The Magbukun tribe clarified

their position after officials of the Subic Bay Marine Exploratorium Inc. (SBMEI), operator of the Ocean Adventure marine park, raised questions about the SEA Games project and criticized the Subic Bay Metropolitan Authority (SBMA) for its “failure in stewardship of the Subic Freeport’s environmental assets.”

News reports quoting the SBMEI and the Save Subic Bay Coalition (SSBC) claimed that “a protected area in the [Subic] Freeport had been cleared to give way to a shooting range.”

Salonga, however, stressed that the EOD is an area where the US Navy used to explode bombs and bullets which were for disposal. He said that because of this kind of activity, there was no heavy vegetation in the area.

The Ayta official also affirmed that what was cleared during the project construction consisted mostly of grass and secondary growth of Ipil-Ipil and guava trees, and the three gubas trees that the SBMA Ecology Center had permitted for cutting.

He also said the Magbukuns did not make an issue out of the SEA Games project because they knew that it was located in an area set by the tribe for recreation and multipurpose use.

Tribal leaders, along with Sipag officials, visited the project site last Sunday and noted the development taking place.

Workers arrange items at the damaged air port as Ty phoon Kammuri slammed Legazpi city, A lbay prov ince, southeast of Manila, Philippines on Tuesday, December 3, 2019. A powerful typhoon was blowing across the Philippines on Tuesday after slamming ashore overnight in an eastern province, damaging houses and an airport and knocking out power after tens of thousands of people fled to safer ground.

Earlier, SBMA Ecology Center Manager Amethya de la Llana pointed out that while the construction project is within a protected area, the location is no longer classified as forestland.

WORKERS arrange items at the damaged airport following typhoon Tisoy’s onslaught in Legazpi City, Albay December 3, 2019. The powerful typhoon blew across the Philippines on Tuesday after slamming ashore overnight in an eastern province, damaging houses and an airport and knocking out power after tens of thousands of people fled to safer ground. AP

T

HE death toll from Typhoon Tisoy (international name Kammuri) rose to 17 after destroying houses and displacing hundreds of thousands on its path across the Philippines.

As it neared its exit, tropical cyclone wind signals have been lifted as of Wednesday for 10 out of about a hundred areas placed on alert this week, according to the nation’s weather bureau.

Five died in Bicol region on the southern tip of main Luzon island, 11 others in other parts of Luzon and one in Visayas, according to reports from police and local disaster management agencies.

At least P800 million pesos of damage to agriculture was recorded in Bicol and Southwestern Tagalog regions alone, local disaster management officials reported.

Parts of 12 roads and three bridges remain closed, said the national disaster management council’s latest bulletin. About half a million people were evacuated.

Tisoy is the 20th storm to hit the Philippines in 2019 where about 20 cyclones pass through each year.

Climate ‘emergency’

THE University of the Philippines Resilience Institute (UPRI), meanwhile, expressed its support for House Resolution 535 filed by Albay Second District Rep. Joey S. Salceda on November 18, 2019, declaring a “disaster and climate emergency” in the Philippines.

The UPRI, along with UP Nationwide Operational Assessment of Hazards Center Executive Director Mahar Lagmay, said “the declaration of climate emergency is for all

to take seriously. This resolution is a reiteration of what we already know, that we need to do climate action and we need to do it now, no ‘but’s’ and no ‘if’s.’”

The resolution states that “the Philippines has been suffering from a disaster and climate emergency which now compels a wholeof-government and whole-of-society policy response to anticipate, halt, reduce, reverse, address and adapt to its impacts, consequences and causes.”

The UPRI also supports the resolution to name 2020 as the year of “disaster and climate emergency awareness” to increase consciousness among Filipinos.

“Every year, the Philippines is constantly identified as among the top countries most impacted by the climate crisis,” said Yeb Saño, executive director of Greenpeace Southeast Asia, “so it’s high time we have this formal acknowledgment by the government that we are indeed in an emergency situation.”

Saño emphasized that a climate emergency declaration should push government to prioritize climate urgency in the national and local levels, and hold fossil fuel companies accountable for their role in driving climate-change impacts on Filipinos.

Salceda, for his part, stressed the role of science, and the development and use of climate technologies to address the climate emergency.

“ The best available science should inform and guide climatechange adaptation efforts, including the integration, adaptation, and access to multi-hazard early warning systems and disaster risk information, and assessment to the people,” Salceda, also chairman of the House Committee on Ways and Means, said.

Legazpi Airport reopens

LEGAZPI Airport, the Bicol regions air hub, has resumed operation on Wednesday after sustaining damage from Typhoon Tisoy.

Despite the damage, Philippine Airlines and Cebu Pacific f lights were able to land without any hitch, according to the Civil Aviation Authority of the Philippines (Caap).

Caap Area Center 5 Manager Cynthia Tumanut, reported that they were able to utilize undamaged areas of the passenger terminal building as temporary arrival and predeparture areas.

“The airport also mobilized its support personnel in assisting passengers in getting through the designated temporary check-in and predeparture areas,” she said in her report to the Caap.

The Caap has been conducting a check since Tuesday of all 14 commercially active airports, especially the Bicol and Visayan airports, making sure the damages caused by Tisoy on airport infrastructures, including the navigation and communication facilities are repaired soonest to allow all commercial and private flights to resume.

DA’s initial damage report

THE Department of Agriculture, for its part, said the initial damages and losses brought by Typhoon Tisoy in Calabarzon and Bicol Region have reached P531.61 million.

As of 12 noon of Wednesday,

December 4, 2019, the DA said the damages and losses covered a total of 14,637 hectares of agricultural areas in Calabarzon and Bicol region, with an estimated production loss of 18,455 metric tons (MT) affecting some 3,808 farmers.

The agency said the affected crops were rice, corn and high-value crops.

For rice alone, the DA said some P318.94 million were recorded initial damaged with 11,539 MT volume production losses in 12,435 hectares in Calabarzon and Bicol.

It added the total damage for high-value crops reached P145.55 million with production volume of 5,240 MT in 1,025 hectares in Calabarzon and Bicol.

For corn, the DA said P67.12 million losses were recorded with volume production at 1,676 MT in 1,176 hectares in Quezon province.

The agency added its regional offices in Regions 4A and 5 have available 3,230 bags of rice seed reserves.

It said the DA regional office in Region 5 has available 3,163 bags of rice seeds, 2,632 bags of corn seeds, and 322 kilograms of vegetable seeds to be distributed to the affected farmers who are ready to replant.

Earlier, the DA added the government has allotted P250 million quick-response fund (QRF) that can be utilized for rehabilitation of areas to be affected by Typhoon Tisoy.

In Bicol, Salceda said the PagIBIG Fund has activated its recovery package for its members affected following the typhoon’s onslaught in Albay.

In an interview, Salceda said the Pag-IBIG Fund offers an express home rehabilitation and reconstruction loan to all its members, including existing home loan borrowers.

“The house loan offer is P150,000 for each member,” he said.

According to Salceda, existing borrowers can also apply for a six-month moratorium at zeropercent interest rate.

“To further ease the application, processing fees and expenses will be free of charge,” he added.

Salceda also asked Social Security System and Government Service Insurance System for six months loan installment moratorium interest-free for its members in Albay.

“A moratorium frees up scarce financial resources to help families recover. The savings also keep the money inside Albay economy during this period when our capital assets, esp critical household resources, were destroyed. Cash is the best form of relief as it gives the choice to the victims,” he said.

Bloomberg News, Recto Mercene, Jovee Marie N. Dela Cruz

Live media coverage of Maguindanao massacre case promulgation pressed Hundreds of foreigners working

By Joel R. San Juan

V

@jrsanjuan1573

ARIOUS media outfits have asked the Supreme Court to allow live coverage of the promulgation of the infamous Maguindanao massacre case set on December 19, 2019.

In a three-page letter sent to Chief Justice Diosdado Peralta on Tuesday, December 3, 2019, the National Union of Journalists of the Philippines (NUJP), the Center for Media Freedom and Responsibility (CMFR) and the Philippine Center for Investigative Journalism (PCIJ) said the media and the public waited 10 years for the event, thus, should be allowed to witness the promulgation.

The groups said the live coverage/streaming of the promulgation would benefit the families of the 58 victims, 32 of whom were journalists, who are mostly based in General Santos City, South Cotabato, Sultan Kudarat and Maguindanao.

“The live coverage/streaming of the prom-

ulgation would allow the families and relatives of the 58 victims who may not be able to attend the promulgation in Metro Manila to hear live the reading of the Court’s decision on the killing of their relatives…not every family member has the capacity to fly to Manila,” the letter read.

The NUJP and CMFR also suggested that the SC designate a specific area within the courtroom as a media gallery where reporters and cameramen will be stationed.

They pointed out that the live coverage would also not be prejudicial to the rights of the accused, noting that promulgation is just a reading of the judge’s decision as stated in the Rules of Court.

It would also allow the public to hear the ruling of the lower court, boosting “the public’s trust on transparency and accountability of Court processes, particularly in how fair and just the case has been decided.”

The letter was signed by various media networks, publications and journalists.

The Maguindanao massacre case claimed the lives of 58 individuals including 32 print and broadcast journalists who were then accompanying a group of supporters of now Maguindanao Rep. Esmael Mangudadatu in filing his papers to run for the post of Maguindanao governor against Andal Ampatuan Jr, then-Governor Andal Ampatuan Sr.’s son.

They were waylaid by armed supporters of the Ampatuans and brought in the town of Ampatuan where they were slaughtered and buried in hastily dug graves.

The case should have been decided last month as it was already submitted for resolution last August but Presiding Judge Jocelyn Solis-Reyes asked the Supreme Court for additional time before coming up with a decision.

Under the Rules, a Court has 90 days upon which to issue judgment after a case has been submitted for resolution.

The SC granted Solis-Reyes’s request for a one-month extension and she is expected to render a decision on or before December 20.

sans permit face deportation–DOLE

By Samuel P. Medenilla @sam_medenilla

T

HE Department of Labor and Employment (DOLE) said on Tuesday it would likely recommend the deportation of some 126 foreign nationals (FN) found working in the country without any permit.

Bureau of Local Employment (BLE) Director Dominique R. Tutay said they learned during their ongoing “validation” process for Philippine Offshore Gaming Operators (POGO) and their service providers that the said FNs are not documented with the DOLE and Bureau of Immigration (BI).

The said FNs were given due time apply to secure their Alien Employment Permit (AEP) from DOLE, but they apparently failed to do so.

“Our last recourse is to provide BI

with the name since they will be [the] ones to initiate their deportation,” Tutay told reporters in an ambush interview.

She said they are now just gathering the birthdays of the concerned FNs before making the submission to BI. Tutay earlier said birthdays are mainly being used by the BI to identify FNs in the Chinese-dominated POGO since they have similar names.

The labor official said they are anticipating to endorse hundreds of other FNs to BI by the end of the month once they finally validate the list of FN employees submitted by POGOs and their service providers

by December 15.

“We have to complete the data before we release it to the media. Apparently, there are a few hundreds, which we initially saw to have no permits. We are still validating this,” Tutay said.

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If you have any information / objection to the above mentioned application/s, please communicate with the Regional Director thru Employment Promotion and Workers Welfare (EPWW) Division with Telephone No. 400-6011.

ATTY. SARAH BUENA S. MIRASOL REGIONAL DIRECTOR

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Thursday, December 5, 2019

B1

PSE to use new clearing and settlement system for market

By VG Cabuag

T

@villygc

HE Philippine Stock Exchange Inc., the operator of the country’s equities market, on Wednesday said it entered into an agreement for a new clearing and settlement system that will replace its current one.

In its disclosure, the PSE’s unit, Securities Clearing Corp. of the Philippines (SCCP), said it has entered into a software license and maintenance agreement and a consultancy services’ agreement with Millennium IT Software (Private) Ltd., a subsidiary unit of the London Stock Exchange Group.

The agreement involves the customization, use and maintenance of the Millennium Post Trade solutions and Millennium Risk prod-

ucts, which will replace SCCP’s current clearing and settlement, risk and collateral management systems.

“The installation of this new clearing and settlement system will enable SCCP to improve and enhance the services it provides to the market,” the PSE said.

The PSE did not provide information on how the new system will affect its current operations.

In September, the board of SCCP

approved the issuance of 2 million shares worth P200 million, while the PSE will fully pay its unpaid subscription of P50 million. The issuance of SCCP shares came from its unissued portion of its authorized capital stock.

The said amount will partially fund the purchase of the new clearing and settlement system, the PSE said.

The SCCP acts as a clearing and settlement agency for the PSE.

PXP Energy to press proposal for integrated gas hub in Malampaya despite DOE rejection

By Lenie Lectura

@llectura

P

XP Energy Corp. may pursue its plan to develop and utilize an integrated gas hub at the site of the Malampaya project in Northwest Palawan despite being turned down by the Department of Energy (DOE).

“At this time, PXP is considering other options in pursuing the project, including the submission of a letter to the DOE for a reconsideration of the unsolicited proposal given the expected benefits of the project to the country,” PXP President Daniel Stephen Carlos said.

The listed upstream oil and gas company received on November 18 the DOE’s reply, which said the unsolicited proposal cannot be accepted because the service area covered by SC (service contract) 38 is still subject to a valid and existing contract.

At present, the Malampaya gas field is being maintained and operated by a consortium led by Shell Philippines Exploration BV (SPEx), with 45 percent in SC 38; Chevron Malampaya Llc., 45 percent; and state-led Philippine National Oil Co. Exploration Corp. (PNOC-EC) with the remaining 10 percent. PXP in-

tends to take over the operations of the gas field from the consortium once the service contract expires.

However, DOE Assistant Secretary Leonido Pulido III said the agency declined PXP’s unsolicited proposal.

“We advised PXP that we cannot be cognizant of their proposal.

The reason is very basic. We have PCECP [Philippine Conventional Energy Contracting Program] and under that legal framework there are only two ways in order to get a service contract and oil exploration permits,” said Pulido.

Under the PCECP, investors may engage in upstream exploration or development activities in two ways: one, choosing an area from the 14 Pre-Determined Areas (PDAs) offered by the DOE; and two, proposing their own areas for exploration.

“There are only two ways. There is no third mechanism. What they are trying to do is create a third mechanism, which is unsolicited proposal.

You cannot nominate an area that is already covered by a service contract. SC 38 is already covered by an exiting contract so we can’t take cognizance of their unsolicited proposal. We have to refuse it and we

already advised them on that,” explained Pulido.

PXP’s proposal is envisioned to support the continued development of the Malampaya resources, as well as the economic development of the Sampaguita Field and other nearby prospects under Service Contract 72, which is operated by PXP through Forum Ltd. “The project intends to ensure energy security in the country from indigenous natural gas resources for the next 25 years and beyond, while bringing in significant revenues to the Philippine government,” PXP said.

PXP added that the use of the Malampaya facilities as an integrated gas hub will also support the development of a robust indigenous gas industry. These benefits are consistent with DOE’s commitment to pursue national development through the two-fold agenda of attaining energy independence and implementing power market reforms as contained in the Philippine Energy Plan, and is aligned with the DOE’s clean fuel strategy, including the reduction of dependence on coal.

Its unsolicited proposal is also seen to yield substantial foreign-

Finding ‘operational lapses,’ ERC orders Peco to explain T HE Energy Regulatory Commission (ERC) has found “operational lapses” on the part of Panay Electric Co., Inc. (Peco).

In an order dated November 26, and released to the public Wednesday, the agency directed Peco to submit its explanation for the apparent operational lapses found by the ERC’s inspection team.

Peco’s directors and officers were required to explain why no administrative penalty should be imposed and/or criminal action instituted against them for violating the pertinent provisions of the Philippine Distribution Code (PDC) 2017 Edition; Amended Distribution Services and Open Access Rules (DSOAR); Amended Elevated Metering Center (EMC) Rules; and ERC Resolution 12, Series of 2009 (Guidelines for the Accreditation of Satellite Laboratories of Meter Shops).

“Based on the findings of the ERC technical team that conducted the ocular inspection on the electric distribution system of Peco, the latter

committed lapses in the operations and maintenance of its distribution system, thereby posing danger and risks to the lives and properties of its consumers,” said ERC Chairman Agnes VST Devanadera.

Based on the inspection team’s findings, Peco’s protective devises were not properly rated and designed; some poles were found leaning and in unsafe positions; and some meters were found to be clustered and installed in an EMC without securing prior ERC approval.

It was further uncovered that the Certificate of Authority (CA) for Peco’s meter shop expired on last November 18. Peco has not filed the application for the renewal of the same.

“Peco must submit its explanation within 15 days from receipt of the Commission’s Order pursuant to the relevant provisions of the Electric Power Industry Reform Act [Epira]. We need to accord Peco the opportunity to explain its side before we evaluate the extent of their liability for the operational lapses that were discovered,” Devanadera said.

Complaint

THE probe stemmed from a complaint filed by Iloilo City Mayor Jerry Treñas who alleged that the electric pole fire incidents were brought about by Peco’s “inadequately-maintained lines and hazardous electric posts.”

The ERC then dispatched an inspection team, which looked into the different aspects of Peco’s distribution system. Treñas said he filed the complaint to address Peco’s failure to prevent the continuing threat to public safety by its inadequately-maintained lines, power outages and hazardous electric posts because of the numerous and continuing cases of electricity pole fires in the city.

The mayor said he was alarmed after the Iloilo City Fire Marshall and the Bureau of Fire Protection reported that from October 19 to 21, nine Peco electricity poles all around the city caught fire either due to exploding transformers or severed electricity lines.

Lenie Lectura

exchange savings resulting from the reduced importation of coal and other fuel supply, added PXP. The Malampaya gas facility supplies 40 percent of Luzon’s power requirements.

The gas facility fuels the following gas plants: the 1,000-megawatt Santa Rita, the 500-MW San Lorenzo, the 1,200-MW Ilijan, the 97-MW Avion and the 414-MW San Gabriel.

DOTr: Aboitiz’s proposal for Panglao Airport O&M to boost Bohol economy

T

HE National Economic and Development Authority (Neda) Board, chaired

by President Duterte, has approved the Aboitiz Group’s unsolicited proposal for the operations and maintenance of the Bohol-Panglao International Airport.

Transportation Secretary Arthur P. Tugade said the approval of the P3.8-billion deal will boost the economic growth of the province of Bohol, and the subsequent upgrading of the operations and maintenance of its airport may attract more airlines and tourists in the area.

“It is our hope that this new airport will help propel development in Bohol and the rest of the Visayas. We have been dreaming of this for so long, and now, we are closer to our goal of realizing that dream,” he said.

Under the proposal, the Aboitiz Group plans to spend P3.8 billion to initially enhance the airport by installing internal fit-outs through 2021, and optimizing the traffic demand through reconfigurations. The offer carries a 25-year concession period.

With the approval of the Neda Board, the Department of Transportation (DOTr) may now start the Swiss challenge for the offer, wherein other groups may submit bids to win the deal. The original proponent will then have a chance to offer a counterproposal to keep the contract.

Competitive challenges usually go for about 60 days upon the issuance of a bid bulletin. Lorenz S. Marasigan

B2

Companies BusinessMirror

Thursday, December 5, 2019

PSE STOCK QUOTATIONS

December 4, 2019

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE BDO LEASING COL FINANCIAL FIRST ABACUS FILIPINO FUND MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

54 157.6 88.75 25.05 13.14 67.3 37 57.7 112.1 24.5 199 58.2 0.96 1.88 18.1 0.53 7.58 0.38 0.8 175.5 1756 1.04

54.1 158.5 89 25.1 13.16 68.2 37.2 58.1 125 24.6 199.6 58.45 0.98 1.94 18.2 0.59 8.49 0.4 0.81 177 1864 1.05

54 158.5 87.8 25.1 13.12 67.75 37.7 58.7 112.1 24.4 202 59.6 0.98 1.87 18.1 0.59 7.58 0.38 0.81 178.8 1810 1.05

54 159.3 89 25.2 13.24 68.2 38.8 58.75 112.1 24.6 203 59.6 0.98 1.88 18.1 0.59 7.58 0.38 0.81 178.8 1810 1.05

54 157.1 87.6 25.05 13 67 36.8 58.7 112.1 24.4 198 58.2 0.96 1.87 18.1 0.59 7.58 0.38 0.81 172.8 1750 1.05

54 158.5 89 25.1 13.14 68.2 37 58.75 112.1 24.6 199.6 58.45 0.96 1.88 18.1 0.59 7.58 0.38 0.81 175 1750 1.05

1100 1459610 2812780 69100 833100 2511160 287600 500 60 215700 843420 24160 38000 43000 10500 4000 600 50000 97000 2320 50 568000

59400 231059802 249474224 1731335 10942778 170046700 10,796,325( 29361 6726 5288680 168660836 1420197.5 36800 80780 190050 2360 4548 19000 78570 405046 89355 596400

INDUSTRIAL AC ENERGY ABOITIZ POWER BASIC ENERGY FIRST GEN FIRST PHIL HLDG MERALCO MANILA WATER PETRON PETROENERGY PHX PETROLEUM PILIPINAS SHELL SPC POWER AGRINURTURE AXELUM CNTRL AZUCARERA CENTURY FOOD DEL MONTE DNL INDUS EMPERADOR SMC FOODANDBEV ALLIANCE SELECT FRUITAS HLDG GINEBRA JOLLIBEE MACAY HLDG MAXS GROUP MG HLDG PEPSI COLA SHAKEYS PIZZA ROXAS AND CO RFM CORP ROXAS HLDG SWIFT FOODS UNIV ROBINA VITARICH VICTORIAS CONCRETE B CEMEX HLDG EAGLE CEMENT EEI CORP HOLCIM MEGAWIDE PHINMA TKC METALS VULCAN INDL CHEMPHIL CROWN ASIA LMG CHEMICALS MABUHAY VINYL PRYCE CORP CONCEPCION GREENERGY INTEGRATED MICR IONICS PANASONIC CIRTEK HLDG

HOLDING & FRIMS ABACORE CAPITAL ASIABEST GROUP AYALA CORP ABOITIZ EQUITY ALLIANCE GLOBAL AYALA LAND LOG ANGLO PHIL HLDG ATN HLDG A ATN HLDG B COSCO CAPITAL DMCI HLDG FILINVEST DEV GT CAPITAL HOUSE OF INV JG SUMMIT LODESTAR LOPEZ HLDG LT GROUP MABUHAY HLDG METRO PAC INV PACIFICA HLDG PRIME MEDIA SM INVESTMENTS SAN MIGUEL CORP SOC RESOURCES TOP FRONTIER ZEUS HLDG

-2700 65410987 6998332 -1432795 3877848.0002 82322735.5 7,577,085.0002) -5281360 -43567746 -1283529.5 7600 -47790 86400 -

2.43 34.5 0.225 24.3 73.5 321.2 17.7 4.36 3.9 10.8 33.5 8.58 13.58 3.11 17.8 15.2 5.04 8.71 7.18 88.15 0.56 1.49 40.3 197 7.83 12.36 0.179 1.29 10.3 2.02 5.4 1.9 0.115 143.2 1.08 2.43 66.6 2.18 14.68 10.3 13.56 16.78 9.6 1.01 0.92 167 2.01 4.76 3.41 4.97 28.2 2.03 7.8 1.32 5.26 5.11

2.44 34.55 0.238 24.7 74.35 322.8 17.9 4.42 4.1 11 33.55 8.6 13.76 3.12 18.56 15.32 5.2 8.78 7.19 89.4 0.58 1.5 40.5 198 8.14 12.38 0.19 1.3 10.5 2.04 5.45 1.99 0.12 145 1.1 2.59 71.7 2.2 14.9 10.34 13.84 16.98 9.9 1.05 0.93 168 2.06 5.09 3.45 5.14 29.65 2.04 7.9 1.4 5.56 5.12

2.49 34.6 0.225 24.8 75.05 324.6 18.5 4.43 4.1 11 33.45 8.75 13.8 3.28 18.58 15.46 5.2 8.79 7.2 89 0.59 1.49 40.5 194.9 8.14 12.46 0.181 1.35 10.6 2 5.43 1.98 0.115 145.2 1.12 2.43 66.55 2.25 14.7 10.3 13.52 17.16 9.7 1.08 0.95 175 2.06 4.8 3.58 5 28.2 1.94 7.8 1.4 5.57 5.03

2.49 34.8 0.238 24.9 75.05 324.6 18.5 4.47 4.1 11 33.5 8.75 13.8 3.3 18.58 15.46 5.2 8.79 7.2 89.95 0.59 1.6 40.5 198 8.14 12.48 0.181 1.38 10.88 2.05 5.45 1.98 0.12 147 1.13 2.43 71.85 2.25 14.9 10.36 13.84 17.16 10 1.08 0.95 175 2.06 4.8 3.58 5 29.7 2.05 7.8 1.4 5.57 5.38

2.42 34.1 0.225 24.4 73.1 320 17.68 4.36 4.1 10.8 33.25 8.55 13.58 3.11 18.58 15.08 5.2 8.69 7.17 88.05 0.57 1.46 40 193.2 8.14 12.12 0.18 1.29 10.28 2 5.41 1.98 0.115 140.5 1.08 2.43 66.55 2.17 14.7 10.3 13.52 16.68 9.7 1 0.93 154 2.06 4.76 3.45 5 28.2 1.93 7.75 1.4 5.25 5.02

2.44 34.55 0.238 24.7 73.5 321.2 17.9 4.42 4.1 11 33.5 8.6 13.76 3.12 18.58 15.32 5.2 8.78 7.19 89.4 0.58 1.5 40.5 198 8.14 12.38 0.18 1.29 10.3 2.02 5.45 1.98 0.12 145 1.08 2.43 71.85 2.2 14.7 10.34 13.84 16.98 10 1.05 0.93 167 2.06 4.77 3.45 5 29.7 2.04 7.8 1.4 5.25 5.11

1536000 960000 70000 662500 206960 318600 1966300 796000 2000 7200 480400 957900 511800 3399000 1700 461900 2900 859900 1291500 126390 388000 92599000 5400 466630 1000 35700 950000 4349000 121000 1619000 77000 10000 790000 1017550 3919000 5000 230 1420000 200300 103200 213800 1049600 35000 82000 1011000 700 3000 5400 2000 1574500 1500 21645000 118500 6000 1600 1422800

3755310 33124865 15880 16321795 15261655 102334682 35165538 3495470 8200 78720 16056760 8284000 7040290 10797000 31586 7010854 15080 7515301 9274421 11267281 223430 142763160 218260 91802593 8140 436546 171500 5746720 1277260 3256380 417830 19800 91350 146426491 4264810 12150 15465.5 3124810 2945246 1063318 2934642 17641994 346852 82510 941740 113954 6180 25746 7030 7872500 42840 43636100 922795 8400 8464 7388930

-669420 -7836370 2002055 -1833436.5 -42152506 -10839606 -736980 12909375 -857592 88858 3014439.9997 354886 650923.0003 -8446517 -8098448 1200090 36490 45495107 -32156 -81000 -240870 -706142 28260 -198544 -53718930 12150 -873460 -2020440 -339862 -1820834 -8976728 -9980 -5580 71340 -7500000 -8700 -5785000 135673 -1741984

0.76 12.2 814 50.05 11.08 3.38 0.69 0.9 0.92 6.86 6.25 13 899 5.37 78.45 0.485 3.9 11.1 0.55 3.92 6.51 1.31 1060 159.5 0.76 212.2 0.207

0.78 12.32 830 50.1 11.1 3.39 0.7 0.91 0.97 7.05 6.26 13.2 900 5.4 79 0.5 4.04 11.4 0.57 3.93 6.77 1.35 1062 160 0.83 213.4 0.225

0.78 12.36 824.5 49.7 11.02 3.42 0.71 0.92 0.93 7.05 6.51 13.2 898 5.4 79 0.5 4.03 11.54 0.55 4.35 7.7 1.29 1077 161 0.76 218.8 0.207

0.78 12.36 830 50.05 11.12 3.44 0.71 0.92 0.94 7.05 6.51 13.3 904 5.55 79 0.5 4.03 11.54 0.57 4.35 7.88 1.36 1077 161 0.77 219 0.207

0.76 12.14 804 49.6 11.02 3.38 0.69 0.89 0.93 6.85 6.1 13.1 893.5 5.35 77.9 0.49 3.9 11 0.55 3.91 6.5 1.29 1060 158 0.76 212.2 0.207

0.76 12.32 830 50.05 11.1 3.39 0.7 0.91 0.94 7.05 6.25 13.1 899 5.4 79 0.5 3.9 11.4 0.57 3.92 6.51 1.35 1062 160 0.76 212.2 0.207

770000 13900 508250 2216600 3866600 562000 398000 2123000 900000 256600 24786900 307100 66410 21500 2108590 25000 1583000 5102400 3000 132303000 428800 73000 1592055 164990 176000 140 20000

590360 169666 415237665 110519130 42835080 1902130 276370 1912190 841500 1800791 154216511 4034460 59669970 115851 166183486.5 12280 6251620 57190852 1670 528432550 2967036 94620 1689954540 26306307 134930 30442 4140

-4560 46573575 18243450 1653680 -315320 432300 284599 8167469 -1937130 -23300140 -80295 29358464.5 -3715970 -1687398 -297898120 183500 -24510 1377148920 -5099215 -6526 -

PROPERTY

ARTHALAND CORP 0.81 0.82 0.85 0.85 0.82 0.82 2078000 1712000 11620 ANCHOR LAND 8.81 9.45 8.81 8.81 8.81 8.81 7900 69599 AYALA LAND 45.95 46 46.3 46.45 45.95 46 13214100 609171950 -78639535 ARANETA PROP 1.49 1.5 1.54 1.54 1.5 1.5 52000 78830 BELLE CORP 1.97 1.98 1.99 1.99 1.97 1.98 730000 1444210 -807710 A BROWN 0.74 0.75 0.74 0.74 0.72 0.74 82000 60400 CITYLAND DEVT 0.84 0.86 0.84 0.85 0.84 0.84 91000 76840 34000 CROWN EQUITIES 0.18 0.193 0.193 0.193 0.192 0.192 100000 19220 CEBU HLDG 6.2 6.4 6.4 6.4 6.18 6.4 23500 146248 CEB LANDMASTERS 4.75 4.79 4.85 4.88 4.75 4.75 916000 4399040 -1278510 CENTURY PROP 0.54 0.55 0.56 0.57 0.54 0.55 15621000 8735210 223530 CYBER BAY 0.395 0.41 0.405 0.405 0.4 0.4 1850000 741000 200000 DOUBLEDRAGON 19.3 19.38 19.3 19.4 18.94 19.3 269600 5158380 262288 DM WENCESLAO 10.3 10.36 10.44 10.44 10.2 10.36 43200 447690 -99550 FILINVEST LAND 1.46 1.49 1.52 1.53 1.45 1.46 24006000 35623350 -12005810 GLOBAL ESTATE 1.2 1.22 1.21 1.23 1.2 1.23 24000 28900 8990 HLDG 14.82 14.84 14.94 14.94 14.84 14.84 254500 3776880 -3212860 PHIL INFRADEV 1.28 1.29 1.34 1.34 1.28 1.29 955000 1234720 CITY AND LAND 0.69 0.75 0.75 0.76 0.75 0.75 31000 23380 20380 MEGAWORLD 4.18 4.22 4.35 4.4 4.18 4.18 32334000 138842050 -19980020 MRC ALLIED 0.209 0.211 0.214 0.214 0.209 0.209 8150000 1722880 PHIL ESTATES 0.405 0.41 0.39 0.41 0.39 0.405 4110000 1634600 -795000 PRIMEX CORP 2.01 2.02 2.01 2.02 2.01 2.02 102000 205050 ROBINSONS LAND 25.3 25.35 25.5 25.8 24.6 25.3 2845500 71856530 -54854455 PHIL REALTY 0.33 0.35 0.33 0.33 0.33 0.33 40000 13200 ROCKWELL 2.13 2.15 2.23 2.24 2.13 2.15 33000 71850 21500 SHANG PROP 3.17 3.25 3.23 3.23 3.23 3.23 31000 100130 STA LUCIA LAND 2.5 2.52 2.41 2.55 2.41 2.52 212000 530260 SM PRIME HLDG 39.75 40.2 40.1 40.3 39.5 40.2 10056300 402240235 91813560 VISTAMALLS 5.18 5.49 5.47 5.5 5.16 5.5 65300 356316 -16440 SUNTRUST HOME 1.32 1.33 1.33 1.38 1.31 1.33 2316000 3105330 -10720 VISTA LAND 7.5 7.58 7.56 7.6 7.47 7.58 5338800 40325812 -16236619

SERVICES ABS CBN 16.68 16.96 17 17.04 16 16.96 470700 7730004 GMA NETWORK 5.18 5.28 5.15 5.3 5.15 5.18 188200 978767 MANILA BULLETIN 0.41 0.42 0.405 0.415 0.405 0.415 110000 45150 GLOBE TELECOM 1934 1950 1980 1980 1934 1934 29915 58104290 -14759345 PLDT 1072 1090 1068 1095 1068 1072 45470 49102185 6686500 DFNN INC 5.54 5.6 5.19 5.6 5.12 5.6 167000 872019 IMPERIAL 1.66 1.81 1.83 1.83 1.83 1.83 5000 9150 ISLAND INFO 0.1 0.101 0.102 0.102 0.101 0.101 720000 72920 ISM COMM 3.89 3.9 3.87 3.94 3.84 3.9 1514000 5900040 NOW CORP 2.77 2.79 2.78 2.83 2.75 2.77 954000 2662030 -36130 TRANSPACIFIC BR 0.28 0.285 0.28 0.285 0.28 0.28 1100000 309900 PHILWEB 2.68 2.7 2.7 2.74 2.69 2.7 152000 410050 -26950 2GO GROUP 9.7 9.72 9.8 9.8 9.72 9.72 5300 51884 CHELSEA 5.65 5.7 5.54 5.7 5.5 5.65 217700 1213528 6793 CEBU AIR 92.15 93 91.8 93.8 91.6 93 162340 15039865 -461406 INTL CONTAINER 122 123.3 122.8 123.8 120.2 123.3 1601380 195055550 -74787332 LBC EXPRESS 13.52 13.98 13.98 13.98 13.98 13.98 5000 69900 MACROASIA 17.8 17.82 17.94 18.02 17.82 17.82 558700 9994474 -8289224 METROALLIANCE A 0.99 1.03 1.03 1.03 1 1 20000 20060 PAL HLDG 7.6 7.78 7.5 7.79 7.5 7.78 2900 22087 HARBOR STAR 1.17 1.18 1.14 1.17 1.12 1.17 1356000 1555610 11620 ACESITE HOTEL 1.42 1.5 1.46 1.46 1.42 1.42 144000 205820 WATERFRONT 0.59 0.6 0.6 0.6 0.57 0.59 319000 188310 IPEOPLE 7.8 7.86 7.8 7.8 7.8 7.8 9500 74100 STI HLDG 0.66 0.67 0.66 0.66 0.66 0.66 219000 144540 BERJAYA 3.59 3.6 3.25 3.59 3.22 3.59 5136000 17578330 19570 BLOOMBERRY 10.8 10.9 11.2 11.2 10.78 10.9 3900100 42,541,564( 6,683,341.9999) PACIFIC ONLINE 2.48 2.5 2.5 2.5 2.5 2.5 14000 35000 -35000 LEISURE AND RES 2.7 2.73 2.69 2.81 2.69 2.73 549000 1503730 932750 MANILA JOCKEY 3.38 3.39 3.38 3.38 3.38 3.38 84000 283920 PREMIUM LEISURE 0.6 0.61 0.63 0.63 0.6 0.6 2726000 1667560 -894120 ALLHOME 11.46 11.5 11.5 11.5 11.46 11.5 5498300 63222392 34805856 METRO RETAIL 2.1 2.15 2.2 2.2 2.1 2.1 2000000 4274200 -2902120 PUREGOLD 39.7 39.85 40.1 40.1 39.7 39.85 228400 9106780 -4776225 ROBINSONS RTL 74.3 74.95 74.95 75.15 74.3 74.95 47240 3534387.5 -1907430 SSI GROUP 2.36 2.38 2.47 2.5 2.33 2.36 6356000 15098140 2518130 WILCON DEPOT 18.98 19 19 19 18.82 19 4118900 77991392 24636972 APC GROUP 0.46 0.465 0.465 0.47 0.46 0.465 660000 307100 -9300 EASYCALL 8.65 9 8.65 9 8.65 9 17500 155666 -11730.0001 GOLDEN BRIA 419.2 424.8 420 425 420 425 60 25250 IPM HLDG 4.7 4.8 4.79 4.8 4.7 4.7 14000 66750 PRMIERE HORIZON 0.47 0.475 0.48 0.48 0.47 0.475 2010000 950150 -18800 SBS PHIL CORP 8.98 8.99 8.99 8.99 8.99 8.99 31700 284983

MINING & OIL ATOK 10.5 10.66 11.1 11.1 10.66 10.66 300 3286 APEX MINING 1.04 1.05 1.05 1.05 1.04 1.04 169000 176690 -55390 ABRA MINING 0.0015 0.0016 0.0016 0.0016 0.0015 0.0016 17000000 27100 ATLAS MINING 2.39 2.56 2.39 2.39 2.39 2.39 281000 671590 -434980 BENGUET A 0.98 1.14 1.13 1.13 1.13 1.13 10000 11300 CENTURY PEAK 2.58 2.59 2.57 2.59 2.57 2.58 881000 2269760 DIZON MINES 7.38 7.4 7.4 7.56 7.36 7.38 485600 3584338 FERRONICKEL 1.45 1.48 1.5 1.51 1.45 1.45 25741000 38136560 -1504200 GEOGRACE 0.211 0.212 0.212 0.212 0.202 0.211 30000 6250 LEPANTO A 0.097 0.1 0.097 0.097 0.097 0.097 170000 16490 MANILA MINING A 0.0082 0.0086 0.0083 0.0083 0.0083 0.0083 2000000 16600 MARCVENTURES 0.94 0.95 0.98 0.98 0.95 0.95 57000 54210 15200 NIHAO 1 1.04 1.05 1.05 1.01 1.04 136000 137830 NICKEL ASIA 2.89 2.9 2.98 2.98 2.84 2.89 15440000 44683550 -23785790 OMICO CORP 0.47 0.485 0.465 0.475 0.465 0.475 20000 9400 PX MINING 3.16 3.17 3.2 3.2 3.17 3.17 327000 1037570 -66270 SEMIRARA MINING 20.85 20.95 21 21.5 20.45 20.85 2553600 53193540 -13008010 UNITED PARAGON 0.0055 0.0061 0.0055 0.0055 0.0055 0.0055 2000000 11000 AC ENEXOR 8.2 8.23 9 9 8.2 8.2 958400 8097022 -294272 ORNTL PETROL A 0.011 0.012 0.012 0.012 0.011 0.012 19200000 228300 ORNTL PETROL B 0.011 0.012 0.013 0.013 0.013 0.013 100000 1300 PHILODRILL 0.01 0.011 0.011 0.011 0.011 0.011 35000000 385000 PXP ENERGY 10.02 10.04 10.38 10.5 9.94 10.02 1083300 10905122 28156

PREFFERED

HOUSE PREF A 97.55 99.6 99.6 99.6 99.6 99.6 10 996 AC PREF B2R 501 504 501 502 501 502 290 145480 -95280 DD PREF 100.3 100.9 100.3 100.3 100.3 100.3 1000 100300 FGEN PREF G 108.5 112.9 108 108 108 108 2000 216000 FPH PREF C 482 489 473.2 482 472 482 600 287334 GTCAP PREF B 982 995 995 995 995 995 240 238800 LR PREF 1 1.01 1.01 1.01 1.01 1.01 6000 6060 MWIDE PREF 100.1 103.7 100.2 100.2 100.1 100.1 5380 538638 PNX PREF 3A 100.1 102.3 100 100 100 100 10 1000 PNX PREF 3B 104.7 108.8 104.5 104.7 104.5 104.7 540 56462 PNX PREF 4 1025 1028 1028 1028 1025 1025 230 235840 PCOR PREF 2B 1026 1049 1026 1026 1026 1026 115 117990 PCOR PREF 3A 1012 1046 1028 1030 1025 1025 2550 2618875 PCOR PREF 3B 1050 1069 1050 1050 1050 1050 70 73500 SMC PREF 2C 78 78.15 78.15 78.15 78 78.15 920 71883 SMC PREF 2D 75.25 75.7 75.5 75.5 75.5 75.5 2980 224990 SMC PREF 2G 75.25 75.3 75.3 75.3 75.3 75.3 3000 225900 SMC PREF 2I 75.3 75.5 75.3 75.3 75.3 75.3 10 753 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

15.9 5.03

16 5.04

16.68 5.04

16.68 5.08

15.1 5.04

16 5.04

308200 224700

4858354 1132692

WARRANTS LR WARRANT

1.33

-1315432 -1006992

1.44

-

-

-

-

-

-

-

ITALPINAS 3.97 KEPWEALTH 11.5 XURPAS 0.86

3.98 11.52 0.87

4.05 11.5 0.87

4.08 11.78 0.88

3.98 11.28 0.86

3.98 11.5 0.86

266000 402500 594000

1064180 4632754 514130

222880 -

FIRST METRO ETF

117.5

SMALL & MEDIUM ENTERPRISES

EXHANGE TRADE FUNDS 116.8

117.5

117.5

116.8

116.8

8080

945739

-

www.businessmirror.com.ph

Angkas hopes motorbike taxis get clearance beyond Dec. 26 trial end

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By Lorenz S. Marasigan

@lorenzmarasigan

IDE-HAILING app Angkas hopes the government will extend its provisional operations pending the issuance of a clear set of rules and regulations on motorcycle taxis, as well as a law that legalizes the service.

George Royeca, who cofounded the tech-enabled transport app with his wife, said his group, in a recent meeting with members of the technical working group (TWG), has sounded off the government on

its intention to continue operating beyond the six-month provisional testing period for motorcycle taxi services.

“The department order provides for extension. Hopefully, we can get

a positive recommendation from the TWG,” he said in an interview.

“We hope to continue the service for the public.”

The provisional operation of Angkas is set to be terminated on December 26, a day after Christmas.

To recall, the government, due to public clamor, decided to test—in the absence of legislation allowing such—the operations of motorcycle taxis in the Philippines for six months from June 26.

To date, the government has yet to craft a set of rules and regulations for motorcycle taxi services. Royeca hopes that the government will see the value that his group brings to the transport industry, especially since traffic

levels in the country are expected to continue worsening with the Christmas rush.

“We’ve been working very closely with the regulators. From the very beginning, what we have been fighting for is the regulation of motorcycle taxis. It’s all about making it into law, and we won’t stop until there’s a law regulating us,” he said.

Royeca hopes to present his group’s operational statistics to lawmakers in January.

Angkas will join the Institute of Corporate Directors’ (ICD) 2020 Corporate Governance Conference to discuss the use of the platform as a “tool for good governance, and compliance with safety standards and regulations.”

CarDekho buys Carmudi PHL, boosting its Asean presence

I

NDIAN full-stack automotive tech company CarDekho has acquired Carmudi Philippines, a marketplace of secondhand cars in the country, making it the second Asean nation for CarDekho to foray into.

Umang Kumar, who sits as president at CarDekho, said the start of his group’s Philippine operations is in line with the company’s strategy of expanding into Southeast Asia, a market seen by many think tanks as a new powerhouse in the global economic market.

“We are excited to expand our international footprint and invest in the new region. Philippines’s underlying macro fundamentals make

it an extremely promising market,” he said.

Kumar said the optimism for the Philippines stems from the growing demand for passenger vehicles in the country, which has grown at a 14-percent compounded annual growth rate from 2014 to 2018, as well as new car sales reaching 380,000 units last year.

“We see this growth as a big opportunity to digitize the Philippines auto ecosystem and engage with consumers throughout their online car buying journey. Our strong ecosystem play has made us a leader in India and Indonesia. And now we are expecting the same for the Philippines,” he said.

Consumer group urges ERC: Speed up Meralco PSA review

C

ONSUMER advocate Laban Konsyumer Inc. ( L K I ) o n We d ne s d ay urged the Energy Regulatory Commission (ERC) to fast-track its evaluation on the powersupply agreements (PSA) of the Manila Electric Co. (Meralco) that underwent competitive selection process (CSP).

LKI President Victor Dimagiba said consumers await the P0.4008 per kilowatt hour (kWh) savings once these PSAs with Phinma Energy Corp., South Premiere Power Corp., First Gen Hydro Power Corp. and San Miguel Energy Corp. take effect.

“If the regulator acts on these PSAs as soon as possible, this will mean that consumers will not be burdened by high power rates, which have been brought about by power plant outages and high power generation costs.

The more supply of power our country has, the laws of supply and demand show that prices and costs will go down,” said Dimagiba.

LKI submitted last December 2 its motion and manifestation in the matter of the petitions of Meralco for approval of the PSAs. In its motion, Dimagiba noted that Meralco needs a total 1,700 megawatts (MW) of power capacity to continuously supply electricity in its franchise area for the years to come.

“We have still been experiencing yellow and red alerts in November, which is a telltale sign that we need to secure adequate power capacity to meet the growing demand of the grid… the possible cost implications of these PSAs must be confirmed and evaluated as we speak, since this may have a major impact

on consumers. It would truly be great holiday news for customers if their cost of electricity will go drastically down as promised by these PSAs. We at LKI definitely look forward to that,” the advocate said.

During the first public hearing held this week, climate justice and consumers’ right advocates raised various concerns.

The Power for People Coalition (P4P), which filed on November 29 a petition for intervention at the ERC, questioned the results of the competitive bidding.

“We are pleased that after over two years of Meralco’s insistent efforts to evade biddings for their power-supply agreements, the CSP finally took place,” said Gerry Arances, convenor of the Power for People Coalition. “We find it alarming, however, that Meralco is still so set on ensuring that power consumers remain tied to paying for dirty energy in the coming decade while also suffering the impacts of destructive power generation.”

Of the six PSAs now undergoing the approval process in the ERC, the P4P noted that at least 1,460 MW would be sourced from coal and other fossil fuels.

“Meralco is rushing the approval of these new PSAs because its existing contracts worth 1,905 MW, most of which comes from coal-fired power plants, are expiring by the end of this month. But before consumers and all groups pushing for clean energy can rejoice the end of these coal contracts’ reign, we learn that coal-obsessed Meralco is replacing dirty energy, also with dirty energy,” Arances noted. Lenie Lectura

CarDekho is a company that focuses on building a complete, new car and used car ecosystem platform in its territories. In the Philippines, Kumar said CarDekho will “aggressively focus on building up and digitizing the ecosystem, and offer end to end solutions to both new and used car buyers.”

MUTUAL FUNDS

“CarDekho, a leading full-stack auto tech company backing us, will help us in further strengthening our position in this region. This means added enhancements in technology, processes, and platform resulting in great user experience,” Carmudi Philippines Country Head Cholo Syquia said. Roderick L. Abad

December 4, 2019

NAV ONE YEAR THREE YEAR FIVE YEAR Y-T-D

PER SHARE RETURN* RETURN STOCK FUNDS ALFM GROWTH FUND, INC. -A 253.51 -0.02% 1.73% -1.05% 0.52% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 1.4388 2.3% 2.08% -2.41% -0.14% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.7916 -3.74% -0.65% -3.02% -2.85% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.9078 1.17% N.A. N.A. 0.75% FIRST METRO CONSUMER FUND ON MSCI PHILS. IMI, INC. -A 0.8607 2.64% N.A. N.A. 4.87% FIRST METRO SAVE AND LEARN EQUITY FUND,INC. -A 5.3538 1.05% 2.78% -0.91% 1.53% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A,6 0.8591 1.74% -1.07% N.A. 2.68% MBG EQUITY INVESTMENT FUND, INC. -A 107.49 -6.45% N.A. N.A. -7.47% PAMI EQUITY INDEX FUND, INC. -A 51.5956 3.8% 4.13% N.A. 4.82% PHILAM STRATEGIC GROWTH FUND, INC. -A 537.36 3.46% 2.82% -0.47% 4.39% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.3006 2.7% 3.42% 0.53% 3.72% PHILEQUITY FUND, INC. -A 38.2243 3.44% 4.37% 0.4% 4.35% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A,1 1.3006 N.A. N.A. N.A. N.A. PHILEQUITY PSE INDEX FUND INC. -A 5.2521 4.92% 4.92% 1.39% 5.91% PHILIPPINE STOCK INDEX FUND CORP. -A 876.53 4.84% 4.82% 1.29% 5.81% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.8773 0.92% 2.29% N.A. 2.01% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A N.S. N.S. N.S. N.S. N.S. SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A N.S. N.S. N.S. N.S. N.S. UNITED FUND, INC. -A 3.6964 4.37% 6.06% 2.32% 5.59% EXCHANGE TRADED FUND FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 117.5266 5.21% 5.56% 2.29% 6.12% ATRAM ASIAPLUS EQUITY FUND, INC. -B

$0.9735 0.94% 4.08% -0.46% 4.78% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A N.S. N.S. N.S. N.S. N.S. BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES ATRAM DYNAMIC ALLOCATION FUND, INC. -A 1.5769 -5.17% -1.84% -4.08% -4.5% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2301 0.74% 0.25% -1.15% 0.95% FIRST METRO SAVE AND LEARN BALANCED FUND INC. -A 2.6325 3.68% 2.88% -1.38% 3.52% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A,5 0.2314 N.A. N.A. N.A. N.A. GREPALIFE BALANCED FUND CORPORATION -A 1.3299 1.33% N.A. N.A. 1.96% NCM MUTUAL FUND OF THE PHILS., INC. -A 1.9645 6.33% 3.44% 0.9% 6.59% PAMI HORIZON FUND, INC. -A 3.7944 6.86% 2.76% 0.08% 7.51% PHILAM FUND, INC. -A 16.975 6.23% 2.52% 0% 6.71% SOLIDARITAS FUND, INC. -A 2.1398 3.48% 2.32% 0.76% 3.41% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A N.S. N.S. N.S. N.S. N.S. SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A,D,2 N.S. N.S. N.S. N.S. N.S. SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A,D,2 N.S. N.S. N.S. N.S. N.S. SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A,D,2 N.S. N.S. N.S. N.S. N.S. SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A N.S. N.S. N.S. N.S. N.S. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03804 8.84% 2.87% 1.85% 7.76% PAMI ASIA BALANCED FUND, INC. -A $0.9976 4.89% 3.97% 0.25% 9.18% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A N.S. N.S. N.S. N.S. N.S. SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A,7 N.S. N.S. N.S. N.S. N.S. BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM PESO BOND FUND, INC. -A 356.7 4.13% 2.79% 2.26% 3.85% ATRAM CORPORATE BOND FUND, INC. -A 1.8983 2.46% 0.13% -0.68% 2.1% COCOLIFE FIXED INCOME FUND, INC. -A 3.1089 5.02% 5.22% 5.2% 4.46% EKKLESIA MUTUAL FUND INC. -A 2.2123 4.2% 2.33% 1.82% 3.9% FIRST METRO SAVE AND LEARN FIXED INCOME FUND,INC. -A 2.3448 6.3% 2.04% 1.39% 6.34% GREPALIFE FIXED INCOME FUND CORP. -A P 1.6073 2.68% 1.3% -0.31% 2.74% PHILAM BOND FUND, INC. -A 4.3341 10.94% 2.73% 1.49% 10.57% PHILEQUITY PESO BOND FUND, INC. -A 3.7671 7.83% 2.73% 1.4% 7.11% SOLDIVO BOND FUND, INC. -A 0.955 7.21% 1.45% N.A. 7.16% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A N.S. N.S. N.S. N.S. N.S. SUN LIFE PROSPERITY GS FUND, INC. -A N.S. N.S. N.S. N.S. N.S. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM DOLLAR BOND FUND, INC. -A $466.81 4.36% 2.61% 2.73% 4.11% ALFM EURO BOND FUND, INC. -A Є219.54 3.35% 1.59% 1.32% 3.23% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.2032 7.14% 3.02% 2.53% 6.88% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 3.61% 1.46% 1.29% 4.03% GREPALIFE DOLLAR BOND FUND CORP. -A $1.7093 1.26% -0.23% 0.13% 1.13% PAMI GLOBAL BOND FUND, INC -A $1.0938 6.69% 1.17% -0.83% 5.55% PHILAM DOLLAR BOND FUND, INC. -A $2.3916 11.33% 3.35% 2.92% 10.17% PHILEQUITY DOLLAR INCOME FUND INC. -A $0.0602392 5.78% 2.26% 1.95% 5.68% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A N.S. N.S. N.S. N.S. N.S. MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES ALFM MONEY MARKET FUND, INC. -A 125.5 4.19% 2.8% 2.15% 3.82% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A,3 1.0258 N.A. N.A. N.A. N.A. PHILAM MANAGED INCOME FUND, INC. -A 1.2504 6.09% 2.78% 1.62% 5.8% SUN LIFE PROSPERITY MONEY MARKET FUND, INC. -A N.S. N.S. N.S. N.S. N.S. PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A N.S. N.S. N.S. N.S. N.S. FEEDER FUND PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES ALFM GLOBAL MULTI-ASSET INCOME FUND INC. -B,D,4 $0.98 N.A. N.A. N.A. N.A. A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. D - IN NET ASSET VALUE PER UNIT (NAVPU).

1 - LAUNCH DATE IS JANUARY 3, 2019. 2 - LAUNCH DATE IS JANUARY 28, 2019. 3 - LAUNCH DATE IS FEBRUARY 1, 2019. 4 - LAUNCH DATE IS AUGUST 1, 2019.

5 - LAUNCH DATE IS SEPTEMBER 28, 2019. 6 - RENAMING WAS APPROVED BY THE SEC LAST OCTOBER 12, 2018 (FORMERLY, ONE WEALTHY NATION FUND, INC.).

7 - ADJUSTED DUE TO STOCK DIVIDEND ISSUANCE LAST OCTOBER 9, 2019.

"While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www. pifa. com.ph to see the latest NAVPS/NAVPU."

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BIR padlocks 4 warehouse facilities over receipt breach

F

OUR warehouse facilities were padlocked by the Bureau of Internal Revenue (BIR) on Wednesday for failing to register and issue official receipts.

According to authorities, the facilities are operated by Edison Lee Marketing Corp., which is registered at the bureau’s large taxpayers service, the BIR unit that oversees the country’s top businesses.

The four warehouses were not compliant with the registration requirements of the BIR. The enforcement activity is the first “Oplan Kandado” operation conducted on a Large Taxpayers Service-listed business.

Under Section 115 of the Tax Code, as implemented through Revenue Memorandum Order 032009, BIR officials are allowed to suspend or close the business operations of a taxpayer for a period of not less than five days for failure to: register, issue value-added tax official receipts or sales invoices, file correct VAT returns, or pay the correct VAT. According to Deputy Commissioner Arnel SD. Guballa, the warehouses will not be allowed to resume operations, unless the violations have been corrected.

The closure operation was spearheaded by the Large Taxpayers SerVice Chief Assistant Commissioner Manuel V. Mapoy, pursuant to the Oplan Kandado program of the BIR under Commissioner Caesar R. Dulay.

Banking&Finance BusinessMirror

Duty Free-UnionPay deal leverages on robust Chinese tourist arrivals

By Roderick L. Abad

S

@rodrik_28

Contributor

TATE-OWNED retail company Duty Free Philippines Corp.

(DFPC) has tied up with global payment brand UnionPay as they bank on the influx of high-spending Chinese tourists in the country at present.

DFPC Chief Operating Officer Vicente Pelagio A. Angala acknowleged that China has become the

biggest contributor to international and local tourism industries.

In the Philippines alone, the

world’s most populous nation is the second-top tourism market, registering 1.36 million visitor arrivals from January to September 2019, accounting for 22.07 percent of the total foreign tourist volume of 6.11 million, per the latest data from the Department of Tourism.

Given this, he noted that DFPC’s partnership with UnionPay is “a significant step forward” for both parties. Angala said: “Duty Free Philippines shops have become a must-see destination for tourists during their travel, and as we target to increase our market share, we make sure that we keep up with the trends in this fast-paced market to meet the needs of our customers.” The biggest global payment network said it is delighted

to collaborate again with the tax-free shopping outlet in the Philippines to offer UnionPay cardholders more perks while shopping at Duty Free shops nationwide.

“We, at UnionPay, are constantly looking at ways to enhance cardholders’ payment experience by providing greater convenience, payment security and exclusive privileges,” said Wenhui Yang, general manager for UnionPay International Southeast Asia.

According to him, UnionPay now serves the Chinese market, its largest cardholder base of over 8 billion worldwide and counted among the high-spending tourists in the Philippines, with an increase of 71 percent in travel receipts for the first 10

GrabPay, AUB tie up to make it easier to buy at Starbucks

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UPER app Grab has partnered with Asia United Bank (AUB) to enable its users to pay for their Starbucks purchases via its digital wallet GrabPay. Jonny Bates, who heads GrabPay Philippines, said users just have to generate a QR code via the Grab mobile app and scan it on the point-ofsale facility in any Starbucks store in the Philippines.

All GrabPay transactions earn twice the GrabRewards points that can be used for redemption globally.

“As the everyday everything app

of Filipinos, we are happy to bring the convenience of getting your daily coffee fix via cashless payment with GrabPay,” he said in a statement.

GrabPay is positioning itself

as a new mobile wallet for Filipinos. It has set its sights on becoming the preferred digital payments system in the Philippines.

Lorenz S. Marasigan

P

HILIPPINE National Bank (PNB) has turned over P5 million worth of donation to the Ateneo Scholarship Foundation Inc. for its Gov. Amando M. Tetangco Jr. Scholarship fund to benefit promising university students, who may be the next generation of Filipino bankers influencing the landscape of banking and finance in the country.

PNB President and CEO Wick A. Veloso and Chairman Flor G. Tarriela handed the donation to former Bangko Sentral ng Pilipinas Governor Amando M. Tetangco Jr., an alumnus and a foundation scholar of the Ateneo de Manila University; the Chairman of the Board of Trustees for the Ateneo Scholarship Foundation Cecilio K. Pedro; and trustees of the foundation—Mon Paterno, Vic Lim and Chito Tagaysay.

The ceremony was held at the PNB Financial Center in Pasay City, with the bank’s board of directors and board advisors in attendance.

Global bank job cull tops 75,000 this year as UniCredit cuts staff

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eliminate €1 billion ($1.11 billion) of gross expenses.

Banks from Germany, the most-fragmented major banking market in Europe, top the list of job cuts. Deutsche Bank AG is planning to get rid of 18,000 employees through 2022, as it retreats from a big part of its investment banking business. UniCredit’s announcement adds to the thousands of positions that will go at banks from other European countries as they seek to shore up profitability.

But European banks aren’t alone in firing staff to bolster returns. Bank of Montreal said on Tuesday said that it’s cutting 5 percent of its work force, or about 2,300 positions. The most dramatic job cuts by a Canadian bank in more than 15 years are part of efforts to improve operating efficiency, according to CEO Darryl White.

It isn’t all gloom, though, as firms seek to add jobs to update their technology and improve compliance. UniCredit says it will spend €9.4 billion on its information technology over the coming four years, including on human resources. Bloomberg News

Irish bankers set to lose battle to hand out bigger loans

A

DECADE on from the financial crisis, Irish bankers and politicians are pushing regulators to allow home buyers to borrow more.

Their pleas are set to fall on deaf ears.

On Wednesday in Dublin, the central bank will release the results of its annual review of lending limits. Mortgage lending has been capped for the last five years, restricting borrowing to 3.5 times income and requiring large deposits.

For Central Bank of Ireland Governor Gabriel Makhlouf, it’s his first big decision. Pressure to ease the limit has come from Prime Minister Leo Varadkar and financial figures, including AIB Group Plc. CEO Colin Hunt, who say it stops younger people getting on the property ladder. Mindful of the real-estate crash that devastated the economy in 2008, the central bank has given little sign it’s considering a major overhaul.

“We don’t expect wholesale changes,” Eamonn Hughes, an analyst at Goodbody Stockbrokers, said in a note on Monday. Alterations could be limited to “tweaks” for some first-time buyers in the pricey Dublin market, Hughes suggested.

In his first major speech since taking over at the bank in September,

Makhlouf called the rules “a permanent feature of the mortgage market,” while Deputy Gov. Sharon Donnery last month said the rules prevent households taking on “excessive” debt.

“I have seen no evidence that more debt for young couples and families is the answer to the current challenges in the housing market,” Donnery said.

The review is also a chance for Makhlouf to assert his independence from Varadkar’s administration. The government stood by his appointment even after Makhlouf, previously New Zealand’s top Treasury official, was rebuked by authorities there for failing to take responsibility for a security breach around budget information.

Makhlouf will be handed an additional power on Wednesday, to protect the financial system: the so-called systemic risk buffer.

The buffer is a tool introduced by the European Union that Ireland decided to adopt earlier this year, requiring banks to have more capital to guard against systemic shocks. The central bank has not said where it will set its rate. While there is no upper limit on the buffer, the highest rate adopted by a state is currently 3 percent of exposures. Bloomberg News

months of 2019. The memorandum of agreement signed by both parties, likewise, officially launched a new rewards program featuring special discounts at all DFPC stores nationwide. This promotion will run until February 15, 2020.

Under the terms, all UnionPay credit, debit and prepaid cards issued outside the Philippines will be entitled to $50 off for every single receipt of $300 and above; $6 off for a single-time purchase of $200 to $299.99; $2 off for a single-time purchase of $100 to $199.99; and $1 off for a single transaction.

“I am optimistic that this partnership will spur spending, especially during the year-end peak travel season,” Yang said.

ING offers customers rebates to take care of other banks’ transfer fees

I

PNB donates to Ateneo Scholarship Foundation

NICREDIT SpA’s plan to eliminate 8,000 jobs is pushing cuts announced by banks this year past 75,000, almost all of them in Europe, where negative interest rates and a slowing economy force lenders to slash costs.

Chief Executive Officer Jean Pierre Mustier on Tuesday announced the measures as part of the next, four-year chapter in his overhaul of Italy’s largest bank.

They bring the total job cuts disclosed by banks around the world to 75,700, with 83 percent of that in Europe.

The figures underscore the weakness of European banks as the region’s export-oriented economy is rocked by international trade disputes while negative interest rates eat further into lending revenue. Unlike in the United States, where government programs and rising rates helped lenders rebound quickly after the financial crisis, banks in Europe are still struggling to regain their footing. Many are firing staff and selling businesses to shore up profitability. UniCredit says its next round of job cuts will help

Thursday, December 5, 2019 B3

NG Savings Account customers will receive a P100 rebate fee per transaction from now until January 31, 2020.

Since its launch as the first all-digital bank in the Philippines in November 2018, ING said it has sought to redefine banking and savings in the Philippines. Its fully digital account opening process, high-interest rate offer with no minimum amount and no lock-in period, are meant to promote a healthy savings mindset- and higher adoption of cashless transactions in the Philippines, according to ING. In a bid to provide customers another reason to save more now at the peak of the holiday season, it has given customers this offer: from now until January 31, 2020, ING will take care of their other bank’s transfer fees when they transfer to their ING Savings Account. The client will receive a fixed rebate of P100 for every successful electronic bank transfer, for up to two transactions per month.

Mohamed Keraine, head of retail at ING Philippines said, “We believe in giving our customers control of their money

and freedom to move their funds as they need and wish, especially when most people have money in different bank accounts. While ING does not charge any transfer fees, other banks charge fees as high as P100 for interbank fund transfers.”

“By offering our clients a rebate on transfer fees, we are removing one of the barriers that hinder them from fully maximizing the benefits of their ING Savings Account. The P100 rebate fee offer works alongside the high-savings interest rate of 4 percent per annum, which both new and existing ING clients can enjoy.”

This initiative, the bank said, reinforces its promise to deliver a differentiating banking experience that truly meets customers’ needs and address a major banking pain point.

Mohamed added: “During this holiday season, we are giving that little nudge for people to truly save and be more mindful of their finances. We also hope that through this initiative, along with many others already in place, more and more Filipinos will be empowered to start saving.”

B4

TheBroa

Business

Thursday, December 5, 2019

HUMAN SMUGGLERS, GOV GAME AS PINOYS STILL FIN I

By Recto Mercene & Samuel Raphael Medenilla

N June, the Americans told the story of Angelo, a Filipino. To pursue a professional career in boxing after finishing high school, Angelo flew to Sydney on a promise he could make more than $150 per round in the ring in Australia, according to the United States Department of State “Trafficking in Persons” report.

“However, once they arrived, the trafficker forced the boxers to hand over their passports. The trafficker then forced the boxers to sleep in his garage and to box during the day and clean up after the trafficker’s family in the evening,” the TIP report said. “Angelo was rarely paid and, when he was, travel and living expenses were deducted so he ended up with very little. He could not send any money home to care for his two-year-old son.”

Angelo is one of many Filipinos who were able to slip into a tightening system against human smuggling that, according to Dana Krizia M. Sandoval, spokesman for the Bureau of Immigration (BI), has been working so far in favor of the government.

Sandoval said there has been a high rate of apprehensions for victims of human smuggling because of the “intensified campaign” by the BI. She said the BI’s not-sosecret weapon is its Travel Control and Enforcement Unit (TCEU).

Second layer

THE TCEU is the second layer of security at the international airports. Its personnel conduct a secondary inspection of travelers they suspect to be victims of human trafficking.

“To detect cases of human trafficking or illegal recruitment, the first immigration counter or booth would subject the passenger’s document to an initial examination,” Sandoval explained. “When a passenger falls under the category of illegally trafficked person, that person’s passport is not stamped.”

She said the traveler is referred to the TCEU where its members will subject the documents to a fine-tooth comb, including a bit of personal interview or “profiling.”

“The TCEU acts as auditors, to examine the performance activities of BI officials and agents to gauge their performance and to probably discourage any of them from engaging in any illicit activities,” she said.

Sandoval explained that passengers who are prevented from leaving because of questionable travel documents are eventually referred to the Philippine Overseas Employment Administration (POEA).

Currently, TCEU personnel have been deployed at the passenger terminals 1, 2 and 3 of the Ninoy Aquino International Airport (Naia) in Metro Manila.

TCEU outfits were also established in airports in Clark, Cebu, Iloilo, Kalibo, Aklan, and Davao, according to Sandoval. She added that Zamboanga also belongs to this list “because it has a major seaport there.”

Making headway

SANDOVAL credits her boss for the success of the system. She said that since Immigration Commissioner Jaime H. Morente—a former Philippine National Police and Philippine Constabulary official—

took the reins of the agency, the rate of human smuggling across Philippine airports and ports “has dramatically decreased.”

Sandoval said there was a high rate of success of intercepted victims of human smuggling when Morente ordered the hiring of additional personnel to beef up the members of the TCEU and also to establish more of this office in all major international airports.

She noted that a positive result of the TCEU’s establishment is the high rate of interception of wouldbe workers in the Middle East and in developed economies that are magnets for Filipinos seeking employment abroad as a household service worker (HSW).

From January until October this year, the BI has intercepted 357 individuals found to be victims of human smuggling.

Last year, Sandoval said there were 352 individuals who were intercepted by the TCEU. Also in 2018, there were 95,246 Filipinos whose departures were deferred because they were carrying incomplete or improper documents, she added.

An estimated 3,000 Filipinos leave for work abroad every day as the labor market overseas remains lucrative.

There’s so much money involved—in the form of salaries and emoluments received by, for example, those who legally work in the oil fields in the Middle East. But for those who were caught by the government’s ban on deployment, these professionals are willing to fork out cash just to go around the restrictions.

‘Unwilling victim’?

FOR HSWs employed in the homes of some rich Arab emirates, they too had to have lots of money to dispense with in the form of bribes to grease intricate gears of a syndicate that facilitates their illegal departure from any Philippine port or airport.

Thus, “human smuggling”— which has taken root in the country’s major airports—occurs. The Department of the Interior and Local Government (DILG) differentiates human smuggling from TIP, as the former “usually does not include coercion” while the latter may or may involve one; also fraud, deception and abuse of vulnerability, among others.

The DILG’s Primer on Republic Act (RA) 10364, or the Expanded Anti-TIP Act of 2012, said human smuggling is “characterized by facilitating, for a fee, the illegal entry of a person into a foreign country.” The document said TIP, on the other hand, is “characterized by subsequent exploitation after the illegal entry of one person from one place to another or one country to another.”

The US Human Smuggling and Trafficking Center, however, said that while an individual may pay a smuggler “to be transported into the [US] but, upon arrival,

may be told he or she must pay additional money to the smuggler and be forced into commercial sex. That individual is now a trafficking victim.”

Going abroad

ECONOMIES like those in the Middle East have seen a steady demand for foreign labor, especially professionals and HSWs.

Countries that supply oil have created a huge demand for mechanical and chemical engineers, oil-rig crew, welders, computer analysts, etc.

According to recruitment expert Emmanuel S. Geslani, for those lucky professional workers who made it legally through sheer talent, the payscale ranges from $2,000 (P100,000) to $3,500 (P175,000) per month, excluding overtime pay.

On the other hand, Geslani said domestic workers are assured of a monthly $400 (P20,000 at the exchange rate of P50 to $1.)

He said the professionals directly hired by oil-rig companies, whether on-shore or offshore, are directed to proceed to Dubai where all their necessary documentations are processed, “without paying any fees.”

However, following the armed conflict in Middle Eastern countries like Kuwait, Iraq and Libya, bans have been imposed for new hires.

“Many Filipino experts and professionals are hired by an international agency to work where there are US military bases,” Geslani explained, adding that these contractors pay directly in American dollars.

He said following the outbreak of war in Libya, Syria, Afghanistan, etc., only those with existing contracts and who went on vacation were allowed to return to these countries. However, because of the huge demand for cheap labor, some desperate Filipinos are willing to take the chance and leave Manila illegally, according to Geslani.

Getting nowhere

MANY professionals are employed in the Middle East oil platforms, such that there are 2,000 Filipino experts in Afghanistan, 2,000 in Libya and about 500 in Iraq, Geslani said, without citing his source of data.

“Nigeria continues to be a hub for overseas Filipinos, primarily workers involved in the oil, gas and construction industry of the country,” he added. As of 2011, there were 7,240 Filipinos in Nigeria, mostly professionals and spouses of Nigerian nationals, Geslani said.

Asked what recruitment agencies could do to stem the tide of illegal workers who are victims of human smuggling and who eventually end up languishing in some of the Philippine consulates in the Middle East, Geslani could only shrug his shoulders.

“There is nothing that the recruitment agencies could do,” he said. “They are helpless against organized syndicates whose illegal activities stole the sources of their major income.”

After their plane leaves the tarmac in Manila, Geslani said prospective workers take a circuitous route through Europe or North Africa to reach Libya, Iraq and Afghanistan via Dubai,” the jump-off point for those bound to Iraq and Afghanistan.”

On the other hand, since there is also ban for professional workers in areas where high-paying salaries are available—such as Libya, Afghanistan, Iraq, Nigeria, among 20 or 25 other countries—prospective workers are willing to shell out anywhere from P50,000 ($981.03) to P70,000 ($1373.44) at the Naia,

aderLook

sMirror

Editor: Dennis D. Estopace | Thursday, December 5, 2019

B5

OVT IN CAT-AND-MOUSE ND GOLDEN POT ABROAD or P60,000 ($1177.23) at Clark International Airport, for an “assisted departure,” Geslani said.

NINA GORINA | DREAMSTIME.COM

Land, loans

EVEN Filipinos seeking only to work as household service workers abroad are willing to shell out substantial amounts.

Geslani said he knew some had to sell their meager possessions: a piece of inherited land, a domestic farm animal, their only car; or they borrow heavily from relatives and friends.

The recruitment consultant said that when they enter the Middle East, prospective HSWs are lured by prospects of “very fast deployment.” This means they no longer have to wait for months to go through the wringer: securing documents from the Philippine Overseas Employment Agency (POEA) and other government agencies.

“The prospective HSW undertakes this instead of going through the licensed agencies, the Tesda [Technical Education and Skills Development Authority] mandatory training, medical examination,” among others, Geslani explains. He said that despite this, there is no assurance that the applicant would qualify and, sadly, “many are eventually disqualified for physical and medical reasons.”

On the other hand, smugglers would promise the prospective HSWs they would be able to secure all the necessary papers “within two weeks then immediately fly them out of the country.”

“The syndicate also promises existing jobs at the destination country.”

Intercepted

JUST last November, airport immigration agents intercepted four Filipinos who attempted to leave the Naia to work in Libya where there is an ongoing civil war.

The BI has repeatedly warned prospective Filipino workers against skirting overseas deployment bans following the recent interception at Naia.

Port operations division chief Grifton Sp. Medina said the four men were intercepted at the departure area of the Naia 1 while about to board their flight to Abu Dhabi in the United Arab Emirates (UAE).

TCEU Chief Timotea Barizo said the four pretended to be tourists bound for the UAE.

When nabbed, they said they planned to proceed to Amman, Jordan, before proceeding to Libya where they were “hired to work” as aircondition technicians and pipe fitters.

“They said they were recruited to work in Libya despite the deployment ban at the initiative of their friends and relatives who are already working there,” Barizo added.

Morente said the incident should prompt BI officers at the airport to be more alert in enforcing the ban on the deployment of overseas workers to Libya where a civil war has been raging.

The agents revealed that the return tickets presented by the four were not valid, thus reinforcing their suspicion that these men are not tourists.

The Filipinos admitted during questioning that they would go to Libya because high-paying jobs await them because of their technical expertise.

No visa required

TO go around the ban, many jobseekers are advised to secure a tourist visa first or head to any visa-free destinations such as Hong Kong, Taiwan, Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore and Thailand, Geslani said. These are among the

Majority of the applicants face a sad reality once they reach their intended destinations.

The poor and barely educated Filipino would be duped, strung along and made to pay upfront hefty amounts, only to find out that there is no such existing job awaiting him or her in a foreign country.

60 countries where there is no visa requirement for Filipino tourists.

From these territories, the applicants could easily proceed to their intended destinations, hoping that the immigration agents in those countries would not notice that all they have is a tourist visa and not a working visa approved by a Philippine government agency. Once employed, their problem is how to stay longer than the six months usually allotted for tourists.

Hence, many are eventually caught overstaying and either jailed or brought to safeway houses to await repatriation to the Philippines.

This is the sad part of their tortuous journey, Geslani said.

IJM-organized rescue missions from 2011 to 2017.

‘User-friendly’

ACCORDING to Geslani, majority of the applicants face a sad reality once they reach their intended destinations. The poor and barely educated Filipino would be duped, strung along and made to pay upfront hefty amounts, only to find out that there is no such existing job awaiting him or her in a foreign country.

In the end, these abused workers would end up being peddled to other relatives or families or else, working for long hours and more often abused by employers, many of whom treat HSW as virtual slaves, he said. When these workers have reached the end of their rope, they escape or commit suicide or hide at the Philippine consulates for protection.

The problem then becomes a burden to the Department of Foreign Affairs (DFA), which has to find ways, with its meager budget, to repatriate these unlucky Filipinos back to the Philippines, whose only sin was to attempt to find a greener pasture to escape the grinding poverty back home.

This state of affairs has to end sooner or later.

THE Philippine Overseas Employment Administration said the Internet is now also playing a role in the illegal recruitment and human trafficking of overseas Filipino workers.

In a phone interview, POEA Administrator Bernard P. Olalia told the BusinessMirror the agency had monitored the proliferation of bogus job offers online even as early as the previous administration.

In fact, to respond to this alarming trend, he said the POEA even put up a special division within its Anti-Illegal Recruitment branch, dedicated specifically to monitoring bogus overseas job offers on websites and social media like Facebook.

Olalia said they will immediately come out with public advisories to warn aspiring overseas Filipino workers from such spurious websites and social-media accounts.

He said they will then coordinate with Facebook to shut down the said accounts.

Blas F. Ople Policy Center and Training Institute head Susan Ople also agreed with Olalia on the role of social media like Facebook in combating cyber crimes.

“Government, especially DOLE [Department of Labor and Employment] should sit down with the DICT [Department of Information and Communication Technology] and the DOJ [Department of Justice] and come up with a joint campaign against the use of Facebook and other social-media platforms for illegal recruitment and human trafficking,” Ople said.

“A sit-down meeting between government and Facebook is critical. The bogus recruitment sites must be immediately shut down and its creators charged by proper authorities,” she added.

Hunting online

Basics, basics

Grinding poverty

THE Internet appears to be the perfect way to conduct human exploitation.

This is according to Child Fund, a nongovernment organization advocating for pro-children legislation. The group said this has become so since the Internet has become more accessible to more countries including the Philippines.

It said this provides unscrupulous people a medium to victimize multiple people with minimal risk and accountability.

Proof of this, Child Fund said, is the small number of convictions for people who are engaged in what they call the “online sexual exploitation of children,” or Osec. The group is specifically campaigning against Osec.

“In 2018 alone, the Philippine government received more than 60,000 reports of Osec. Out of the thousands of reports, only 27 perpetrators were convicted,” Child Fund said.

Citing also the report of the International Justice Mission (IJM), it said only 20 of the 100 Osec perpetrators were arrested during

WHEN it comes to going after tech-savy illegal recruiters and human traffickers, Olalia said sticking to the basics remains the most effective way to combating their operations.

The labor official emphasized that cyber criminals could only be held accountable through old-fashioned entrapment operations with the help of authorities.

“Many of the registered names and the address of the owners of the said accounts are usually fictitious, which makes it hard for authorities to arrest them,” Olalia said.

He added that an information campaign will also play a big role to minimize the number of victims of online human trafficking and illegal recruitment.

“In areas where we conducted massive information drives against illegal recruiters, we found out there were fewer victims of such illegal activities,” Olalia said.

“That is why we continue to sign agreements with more local government units to further improve our information drive at the grassroots level,” he added.

B6

Thursday, December 5, 2019

The World BusinessMirror

Editor: Angel R. Calso

Trump plays down China deal urgency as trade risks in 3 continents roar back P

France to retaliate if US doubles Champagne, cheese prices

W

ITH a flurry of trade threats across three continents in the span of 24 hours, President Donald J. Trump reminded financial markets that he’s comfortable heading into an election year using tariffs as his main source of international economic leverage.

“I don’t have a deadline,” Trump told reporters on Tuesday in London after one of them asked if he sees phase one of a trade deal with China concluding this year. “I like the idea of waiting until after the election for the China deal. But they want to make a deal now and we’ll see whether or not the deal is going to be right.”

The lack of urgency for a truce in the 20-month-long dispute saw Treasuries prices jump and sent stocks tumbling across Europe, Asia and the US as investors dialed back expectations for an accord before the next US tariff hike on December 15 that would hit about $160 billion in imports from China including smartphones, toys and children’s clothing. A cease-fire on duties is priced into an equities rally and forms the base case for many economists’ forecasts for a modest rebound in global growth next year.

Commerce Secretary Wilbur Ross, speaking on CNBC television on Tuesday, said the US will

go ahead with its plan to add tariffs on Chinese products if nothing changes come mid-December.

“There is always the chance of a breakthrough,” he said, adding that while talks continue between the two sides, there’s no big meeting scheduled.

Heightening concern that negotiations for a near-deal will drag out was a report from Chinese state media indicating the government would soon publish a list of “unreliable entities” that could lead to sanctions against US companies.

To be sure, downplaying his desire for a deal and slow-walking a negotiating partner have been calling cards of Trump’s trade strategy.

White House officials have said repeatedly that an initial deal is almost done and people close to the talks reinforce that. Trump, however, has faced political pressure from China hawks in Congress to support protests in Hong Kong and a bill related to Beijing’s

crackdown on ethnic Muslims in Xinjiang that was passed by the US House of Representatives on Tuesday.

China’s foreign ministry on Wednesday urged the US to stop the bill and vowed to further respond if it progresses, without providing any details.

Because of those political factors, questions have grown over whether the interim deal, which Trump announced on October 11, can be concluded before new tariffs take effect on December 15.

The latest barrage of bearish trade news started before sunrise in Washington on Monday, when Trump tweeted unexpectedly that he’s reinstating tariffs on steel and aluminum imports from Brazil and Argentina for what he called their “massive” currency devaluations. In a more anticipated move, the US Trade Representative later in the day announced plans for tariffs on $2.4 billion of imports from France as retaliation for a new tax that hits American tech companies.

Tucked between those pronouncements was a widely overlooked statement that the USTR was contemplating increasing the scope of tariffs levied against the European Union over illegal Airbus subsidies after a World Trade Organization ruling.

In less than two days, investor optimism that Trump’s dovish trade advisers were winning the internal debates started to fade as the president’s more hawkish instincts reemerged. Underpinning his actions are an apparent

belief that his import taxes are having a positive effect.

Stock rally

“US Markets are up as much as 21 percent since the announcement of Tariffs on 3/1/2018—and the US is taking in massive amounts of money (and giving some to our farmers, who have been targeted

by China)!” Trump tweeted on Monday.

Among the biggest risks to emerge was a possible trade conflict with Europe. While the proposed tariffs directed at France are small in comparison to the China levies, a US move on a member of the European Union might open Trump up for retaliation from Brussels.

On Tuesday, the EU refrained from an immediate reaction to the French tariffs, saying in a statement that the 28-nation bloc “will act and react as one and it will remain united” while “coordinating closely with the French authorities with the next steps.”

Another potential threat to the outlook emanating from US policy is a currency war, in which nations go against their Group of 20 pledges and target foreignexchange rates for domestic economic benefit. Trump on Monday signaled he wants the Federal Reserve to act to weaken the dollar.

“The Fed should lower rates (there is almost no inflation) and loosen, making us competitive with other nations, and manufacturing will SOAR! Dollar is very strong relative to others,” he tweeted. Bloomberg News

Carmakers shedding 80,000 jobs as electric era upends industry

I

T’S turning out to be one of the worst years ever for auto workers across the globe amid shrinking demand and a tectonic shift in vehicle technology, with Daimler AG and Audi announcing almost 20,000 job cuts in just the past week.

All told, carmakers are eliminating more than 80,000 jobs during the coming years, according to data compiled by Bloomberg News. Although the cuts are concentrated in Germany, the US and the UK, faster-growing economies haven’t been immune and are seeing automakers scale back operations there.

The German companies joined General Motors Co., Ford Motor Co. and Nissan Motor Co. in massive retrenchments put in motion over the past year. The industry is sputtering as trade tensions and tariffs raise costs and stifle investment, and as manufacturers reassess their work force in an era of electrification, autonomous driving and ride-ondemand services. The global auto industry will produce 88.8 million cars and light trucks this year, an almost 6-percent drop from a year ago, according to researcher IHS Markit.

Cuts are also being carried out in China, which employs the largest number of people in the industry and has been mired in a sales slump. Electric-vehicle start-up NIO Inc., which has lost billions of dollars and watched its New York-listed shares plummet, dismissed about 20 percent of its work force by the end of September, shedding more than 2,000 jobs.

“The persistent slowdown in global markets will continue to dent automakers’ margins and earnings, which have already been hurt by increased R&D spending for autonomous-driving technology,” said Gillian Davis, an analyst with Bloomberg Intelligence.

“Many automakers are now focused on costsaving plans to prevent margin erosion.”

Being an early leader in electrification hasn’t spared Nissan, which has been in turmoil since the arrest of former Chairman Carlos Ghosn a year ago.

With profits plumbing decade lows, the Japanese automaker is shedding 12,500 positions in the coming years, mostly at factories across the globe, to reduce costs as it rushes to refresh an aging model lineup. A redesigned version of the battery-powered Leaf, which debuted later than planned because of the loss of the company’s longtime leader, isn’t giving the company much of a boost this year.

Factory-floor workers have been rising up against the retrenching. GM’s more than

prepares for a costly transition to electric vehicles. Daimler announced plans to shed more than 10,000 worldwide.

If it were a country, the auto industry would be the world’s sixth-largest economy, according to Fircroft, a technical job-placement firm. In Germany alone, when including local operations of foreign manufacturers, about 150,000 jobs might be at risk in coming years, according to estimates by the Center of Automotive Management, near Cologne.

The clouds started to form for US carmakers last year, when Ford revealed plans for a years-long, $11 billion restructuring. The company has made a series of piecemeal announcements since then, slashing roughly 10 percent of its global salaried ranks and shutting six plants: three in Russia and one apiece in the US, UK and France. Of roughly 17,000 jobs Ford is eliminating, 12,000 will be in Europe.

The state of car-factory jobs in the US is less clear, mainly thanks to the new contracts Detroit-area automakers have been negotiating for the next four years.

The prospects looked somewhat bleak for the United Auto Workers union when talks began this summer. With vehicle demand slowing, production shifts were being pared back across the country—by Nissan at its truck-and-van plant in Mississippi, Fiat Chrysler Automobiles NV at its Jeep Cherokee SUV factory in Illinois and Honda at an

can pay most of its taxes in one EU country where it has its regional base—often a small country like Luxembourg or Ireland that tries to attract multinationals with very low corporate taxes.

Le Maire noted that France will reimburse the tax if the US agrees to the international tax plan.

French wine and cheese producers expressed dismay about being caught in the middle of the battle over digital revenues.

Cheese producers warned the US measure would hit small businesses hardest.

An industry association for pungent Roquefort cheese, among the targeted products, said the 100 percent tariffs could wipe out the US market—300 tons a year—for the blue-veined cheese.

“We’re lucky to have a product known around the world but the reverse side of that is that every time there’s a trade dispute, Roquefort is systematically targeted,” said Jerome Faramond, the association president.

Le Maire said France talked this week with the European Commission about EU-wide retaliatory measures if Washington follows through with the tariffs next month.

EU Commission Spokesman Daniel Rosario said the EU will seek “immediate discussions with the US on how to solve this issue amicably.”

The US tariffs could double the price American consumers pay for French imports and would come on top of a 25-percent tax on French wine imposed last month over a separate dispute over subsidies to Airbus and Boeing.

The Office of the US Trade Representative charges that France’s new digital services tax discriminates against US companies.

France disputes that, saying it targets European and Chinese businesses, too. The tax imposes a 3-percent annual levy on French revenues of any digital company with yearly global sales worth more than €750 million ($830 million) and French revenue exceeding €25 million.

The US investigated the French tax under Section 301 of the Trade Act of 1974—the same provision the Trump administration used last year to probe China’s technology policies, leading to tariffs on more than $360 billion worth of Chinese imports in the biggest trade war since the 1930s. AP

Oil defies trade-deal bearishness to rise before Opec+ meeting

A CAR carrier trailer hauls vehicles past the Lordstown production plant complex in Ohio. ALLISON FARRAND/BLOOMBERG

46,000 US hourly workers staged a 40-daylong strike this fall—the longest against the company in almost half a century—but managed to coax the company into keeping open only one of the four American factories it made plans to shutter a year ago.

On November 22, about 15,000 people marched in the streets to protest job cuts and factory closures in Stuttgart, the German city that’s home to the global headquarters of Daimler, Porsche and major parts supplier Robert Bosch GmbH. Protesters in the historic downtown square of Schlossplatz wore red scarfs, blew whistles and waved red flags in support of Germany’s powerful labor union IG Metall, which organized the demonstrations. Top union officials who represent workers at Mercedes-Benz, Audi and many parts makers claim the companies are using the shift toward EVs as an excuse to push through deeper cuts and boost profits.

“We don’t let our jobs be taken away just because some managers haven’t done their homework,” Roman Zitzelsberger, the regional head of IG Metall in the state of Baden-Wuerttemberg and the worker representative on Daimler’s supervisory board, told the crowd.

The job concerns proved to be justified.

Audi announced a week later it will eliminate as many as 9,500 positions in Germany through 2025 as parent Volkswagen AG

A R I S — Fr a n c e i s b r i s tling at a US threat to slap 10 0 - percent t a r i f fs on French cheeses, Champagne and other products, with the French leader telling President Donald Trump on Tuesday that the move would amount to an attack on all of Europe.

The US Trade Representative proposed the tariffs on $2.4 billion in goods on Monday in retaliation for a French tax on global tech giants including Google, Amazon and Facebook.

France’s reaction was swift and robust, with President Emmanuel Macron and his finance minister both warning of a European riposte if the US measure is implemented.

“We’ll see where the discussions lead in the coming weeks, but it will involve a European response,” Macron said in a meeting with Trump on the sidelines of a Nato summit in London.

“Because, in effect, it wouldn’t be France that is being sanctioned or attacked but Europe.”

Macron said it’s “not fair” that digital revenues are taxed less than real-life revenues. He said France shouldn’t be singled out for wanting to correct that imbalance with a tax on tech firms.

“My first question is what will happen with the United Kingdom, which adopted the same tax? For Italy, the same tax? Austria, Spain ...,” Macron asked. “If we’re serious, those countries will have to be treated the same way.”

The US move is likely to increase trade tensions between the US and Europe. Trump said the European Union should “shape up, otherwise things are going to get very tough.”

“I’m not in love with those [tech] companies, but they’re our companies,” Trump said ahead of his meeting with Macron.

French Finance Minister Bruno Le Maire said the US tariff threat is “simply unacceptable....

It’s not the behavior we expect from the United States toward one of its main allies.”

The French tech tax, he said, is aimed at “establishing tax justice.”

France wants digital companies to pay their fair share of taxes in countries where they make money instead of using tax havens, and is pushing for an international agreement on the issue.

The problem is pronounced in Europe, where a foreign company

Ohio plant that mostly makes Accord sedans.

Workers fear plug-in cars, which have fewer parts and require less labor to build, will doom auto jobs.

In the end, the UAW has announced commitments by GM, Ford and Fiat Chrysler to invest almost $23 billion in US facilities over the course of the next four years, and to add or retain more than 25,000 jobs. While that sounds like a lot, it remains to be seen whether the spending will actually boost production.

It costs the companies billions to convert or retool existing factories for them to make new cars and power trains.

The union also didn’t emerge without some bruising losses, with the most notably being its lost battle to save GM’s spacious car plant in Lordstown, Ohio. The factory, opened in 1966, became a political football when the company announced production of Chevrolet Cruze sedans would end in March. President Donald Trump told supporters a year and a half earlier not to sell their homes, assuring them his administration would bring jobs back. GM sold the complex to cash-strapped electric-truck start-up Lordstown Motors Corp. last month.

For Scott Brubaker, GM’s offloading of the Lordstown plant could be a one-way ticket out of the auto industry. The automaker transferred him to its Corvette sports-car plant in Bowling Green, Kentucky, which meant leaving an Ohio farm his family has owned for four generations. Bloomberg News

O

IL defied trade-deal bearishness to rise for a third day after an industry report pointed to shrinking US crude stockpiles and before Opec+ decides on its output-cut policy later this week.

Futures added as much as 0.9 percent in New York as Asian stocks dropped amid heightened uncertainty over whether the US and China will reach their much-touted limited trade agreement. The American Petroleum Institute reported crude inventories fell by 3.72 million barrels last week, according to people familiar with the data. That would be the biggest decline since September if confirmed by Energy Information Administration figures due on Wednesday.

Oil has been rising since early October on optimism the US and China are close to a initial deal, suggesting crude has room to fall if the two sides can’t reach an agreement. However, the likelihood that Opec and its allies will extend production cuts and toughen compliance, together with some signs that they could deepen them, appears to be propping up prices this week.

“Oil’s getting support as the market widely expects Opec+ to extend the current output curbs when they gather this week,” said Will Sungchil Yun, a commodities analyst at HI Investment & Futures Corp. in Seoul. If US-China trade relations worsen again, crude will likely be driven downward, he said.

West Texas Intermediate for January delivery climbed 43 cents, or 0.8 percent, to $56.53 a barrel on the New York Mercantile Exchange as of 11:52 a.m. in Singapore.

The contract rose 0.3 percent to close at $56.10 on Tuesday following a 1.4-percent gain on Monday.

Brent for February settlement added 50 cents, or 0.8 percent, to $61.32 a barrel on the London-based ICE Futures Europe Exchange. The global benchmark crude traded at a $4.86 premium to WTI for the same month.

Analysts surveyed by Bloomberg expect the EIA to report a 1.5-million barrel decline in US crude inventories, according to the median estimate. That would be the first drop in six weeks.

While Iraq’s Oil Minister Thamir Ghadhban reiterated that an additional cut of about 400,000 barrels a day may be needed to offset slowing demand, an advisory committee for the Organization of the Petroleum Exporting Countries didn’t discuss deeper reductions when they met in Vienna on Tuesday.

President Donald Trump told reporters in London that he didn’t have a deadline after being asked if he sees phase one of a trade deal with China concluding this year.

Commerce Secretary Wilbur Ross, speaking on CNBC television on Tuesday, said the US will go ahead with its plan to add tariffs on Chinese products if nothing changes come mid-December. Bloomberg News

The World BusinessMirror

www.businessmirror.com.ph

Google cofounders step aside as antitrust scrutiny heats up

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AN FRANCISCO—Google’s cofounders are relinquishing their executive positions just as state and federal regulators, not to mention the Department of Justice and Congress, are taking a keen interest in possible abuse of its privacy practices and market power.

But their long foreshadowed successor, Sundar Pichai, has been well prepped to serve as the public face of the company in addition to his current role as chief executive.

Larry Page and Sergey Brin are stepping down as CEO and president, respectively, of Google parent company Alphabet. The move caps more than two decades during which the pair have shepherded the one-time start-up they founded in a Silicon Valley garage.

Pichai, who has been Google’s CEO since 2015, will now also head up Alphabet. The company isn’t filling Brin’s position as president.

Google is facing increasing criticism and investigations from authorities in the US and Europe about its privacy policies and nature of its many-legged business. That will now fall to Pichai to wrangle and push through— though Brin and Page, both 46, have noticeably backed out of the spotlight already.

Both stopped making appearances earlier this year at the regular question-and-answer sessions with employees, and Page didn’t attend this summer’s A lphabet shareholders meeting, even though he was still in the CEO role.

Last year, Google raised hackles in Congress by refusing to send Page or Pichai to a hearing on Russian manipulation of internet services to sway US elections. Congressional officials left an empty chair for Page at the witness table; top executives from Facebook and Twitter, meanwhile, turned up to testify. Offended lawmakers derided Google as “arrogant.”

Although longtime tech analyst Tim Bajarin of Creative Strategies said he doesn’t believe Brin and Page are leaving “ because the fire is getting hotter,” he said Pichai’s role at Google has been preparing him for the increased government scrutiny.

Pichai testified before Congress last December for the first time, defending the company against claims from Republicans that the search service is biased against conservatives.

Alphabet has been positioning Pichai as the de facto leader for quite some time. It has also made him the top executive voice at shareholders meetings and on earnings call. Recently, Pichai changed the format of the employee question-and-answer sessions from a weekly occurrence to a monthly one.

Pichai, a 47-year-old immigrant from India, has worked at the company for 15 years, serving as a leader in projects to build Google’s Chrome browser and overseeing Android. Pichai, who has an engineering background, took over as the head of Google’s products before being promoted to CEO when Alphabet was created.

He is known as a soft-spoken and respected manager.

Google has been facing pressure from privacy advocates over its collection and use of personal information to target advertising. It also faces allegations that it abuses its dominance in search and online advertising to push out rivals.

The company is the subject of antitrust inquiries from Congress, the Department of Justice, a group of US state attorneys general and European authorities. The company has also faced harsh criticism about the material on its services. Its video streaming business, YouTube, was fined $170 million to settle allegations it improperly collected personal data on children without their parents’ consent.

In its early days, Google focused on only one business—cataloging the growing Internet. Page and Brin started Google soon after

IN this September 5, 2018, file photo, an empty chair reserved for Google’s parent company, Alphabet, which refused to send its top executive, is seen before the Senate Intelligence Committee hearing on Capitol Hill in Washington. The cofounders of Google are stepping down as executives of Alphabet. AP PHOTO/JOSE LUIS MAGANA

they met as Stanford University graduate students in 1995.

The company has now become one of the most influential companies in the world. Google dominates online search and digital advertising, and makes the world’s most widely used operating system for smartphones, Android.

It’s hard to make it through a whole day without using one of Google’s services—ranging from online tools to e-mail, cloud computing systems, phones and smart speaker hardware.

Bajarin doesn’t expect much to change with the executive shuffle. And if anything does, he said, it will be due to government regulation.

Pichai assured employees in an internal e-mail that his new job wouldn’t mean he was taking a step back from Google.

“I want to be clear that this transition won’t affect the Alphabet structure or the work we do day to day,” he wrote. “I will continue to be very focused on Google and the deep work we’re doing to push the boundaries of computing and build a more helpful Google for everyone.”

Alphabet—an umbrella corporation that the two created in 2015—still boasts Google as its central fixture and key moneymaker. But it’s also made up of what are known as “other bets,” or long shot projects. That includes drone company Wing and selfdriving car firm Waymo.

Page and Brin, in announcing the news on Tuesday, said the company has “evolved and matured” in the two decades since its founding. Both promised to stay active as board members and

shareholders.

“Today, in 2019, if the company was a person, it would be a young adult of 21 and it would be time to leave the roost,” they wrote in a blog post.

Brin and Page still hold a majority of voting shares of Alphabet.

According to a regulatory filing in April, Page holds 26.1 percent of the Google shareholder vote, while Brin holds 25.2 percent— both thanks to so-called super voting shares.

According to Forbes Magazine, Page has a net worth of $52.4 billion and Brin $56.8 billion.

“Keep in mind, they are not losing their title as billionaires, but they are changing their roles,” Bajarin said.

Google’s longest serving CEO is still Eric Schmidt, the former executive brought into the role in 2001 as a so-called adult supervisor for Brin and Page. Schmidt stepped into the position as the company’s board worried about the relative inexperience of Brin and Page to manage the growing company. He remained CEO until 2011, when Page once again became chief executive. Schmidt stayed on the board until this year.

Page grew up in Michigan, where his late father, Carl, was a computer scientist and pioneer in artificial intelligence, and his mother taught computer programming. Page began working on personal computers when he was just six years old in 1979, when home computers were a rarity.

The geeky impulses carried into his adulthood, leading him to once build an inkjet printer out of Legos. AP

Trump revives military threat against N. Korea’s ‘Rocket Man’

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NITED STATES President Donald J. Trump revived both his “Rocket Man” nickname for Kim Jong Un and the threat of military force against North Korea, in the latest sign of rising tensions ahead of Pyongyang’s year-end deadline.

Trump revisited the name he once used to mock Kim just hours after North Korea said it was preparing a “Christmas gift” for the US if the administration failed to meet its demands by year-end for concessions in nuclear talks. Kim has repeatedly warned in recent months he could take a “new path” in relations with the US, while resuming ballistic missile launches.

“He definitely likes sending rockets up, doesn’t he? That’s why I call him ‘Rocket Man,’” Trump said on Tuesday during a Nato summit in the UK, adding: “We have the most powerful military we’ve ever had, and we’re by far the most powerful country in the world. And, hopefully, we don’t have to use it, but if we do, we’ll use it. If we have to, we’ll do it.”

Despite resuming weapons tests, Kim has refrained from detonating nuclear bombs or launching missiles capable of carrying them to the US while pursuing unprecedented talks with Trump. North Korea’s deadline puts one of Trump’s biggest foreign policy achievements on the line

just as he gears up for reelection.

Any shift by Kim could come as soon as the North Korean leader’s annual New Year’s address, which he has previously used to ratchet tensions up and down. The ruling Workers’ Party announced a rare meeting in Pyongyang later this month “to discuss and decide on crucial issues” due to the “changed situation at home and abroad.”

Pyongyang’s propaganda machine has kicked into high gear in recent months to show Kim as a strong leader. On Wednesday, the state-run Korean Central News Agency published pictures of him riding a white horse through the snow on Mount Paektu—a sacred site where North Korea says Kim’s grandfather and state founder, Kim Il Sung, led guerrillas against the Japanese and his father, Kim Jong Il, was born.

State media praised Kim Jong Un in rhetorical flourishes about the mountain visit—that included his wife, top cadres and military brass—saying he rode a steed “through knee-high virgin snow,” connecting himself to “the source of the lifeline of the revolution and inexhaustible patriotism.”

While Trump and Kim have held three face-to-face meetings and lavished each other with praise over the past two years, they’ve achieved little beyond a vague

promise to “work toward complete denuclearization of the Korean Peninsula.”

North Korea has continued to expand a nuclear weapons program that it sees as a vital deterrent against the threat of American invasion.

During their detente, Trump and Kim have held back from the threats and personal insults they flung at each other in 2017 as North Korea conducted a series of weapons tests. The president notably used the Rocket Man moniker in September of that year while threatening to “totally destroy North Korea” during a speech to the United Nations. North Korea has referred to Trump as a “dotard.”

Kim has balked at US demands for the dismantlement of his weapons program while Trump has so far rejected North Korea’s calls for greater sanction relief. The most recent working-level talks between the two sides in October broke down, with North Korea’s envoy accusing the American side of arriving “empty-handed.”

Trump’s current point man for North Korea, Stephen Biegun, will go to Seoul later this month in his first visit to the South Korea capital since the working-level talks with North Korea broke down, the Yonhap News Agency reported, citing an unidentified official at South Korea’s foreign ministry.

Although Kim hasn’t tested an intercontinental ballistic missile in more than two years, he has reminded the region of his growing military threat with tests of shorter-range missiles, including another volley last week. North Korea responded to Japanese Prime Minister Shinzo Abe’s complaints about the launches with a harshly worded commentary, saying that he “may see what a real ballistic missile is in the not distant future and under his nose.”

On Tuesday, Trump also highlighted a key source of friction between the US and its South Korean allies: the president’s demands for more military funding. American negotiators walked out of cost-sharing talks in Seoul last month, after South Korea rejected the administration’s demands for as much as a five-fold increase to the approximately $1 billion it currently pays.

Trump said those talks had make progress, but it wasn’t immediately clear whether he was talking about an agreement for the current year or the period ahead.

“Last year, I asked them to pay more and they agreed,” Trump said. “And nobody knows this—I’ll say it now, I think, for the first time—but they agreed to pay approximately $500 million a year or more for protection.” Bloomberg News

Thursday, December 5, 2019

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CHINA STOCKPILES U.S. CHIPS AS ‘SILICON CURTAIN’ DESCENDS

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HINA is stockpiling US computer chips, a sign that tech companies there are preparing for worsening trade relations that could lead to being cut off from American technology.

Chinese imports of American semiconductors, integrated circuits and the equipment to make them have risen strongly in the past three years, analysis of the latest official data shows, despite overall purchases from the US declining dramatically since 2018 amid the trade war. Imports of chips and related machinery from the US were almost $1.7 billion in August, the most since at least the start of 2017, and were close to that again in October.

A s US President Donald J. Trump’s tariff war with China morphs into a more general confrontation over future technology, the risk of a “silicon curtain” descending is real for many Chinese firms who are not yet able to source high-tech components domestically.

“It’s politically intolerable to China that the US has an at-will ability to turn off major companies like ZTE and Fujian Jinhua, as well as being able to deal major operational blows to Huawei,” said Dan Wang, a technology analyst at Gavekal Dragonomics in Beijing. “So the government and the companies are trying to be more technologically independent.”

China has invested billions in an attempt to develop a domestic semiconductor industry. But it still lags in key areas such as high-performance microprocessors and graphics chips.

The US blacklisting of Chinese companies, inc lud ing Huawei Technologies Co., is one factor driving the surge in imports, given the need to stockpile. The emergence of homegrown smartphone brands,

such as Huawei and Oppo, as well as a rapid adoption of cloud computing is also helping propel the import of high-performance silicon.

Huawei has built up inventory from around 2018 and continued to do so in 2019 in anticipation of losing access to US tech. The firm is at the center of the tension between the US and China over whether its telecommunications and networking equipment poses a security threat.

Surveillance company Hangzhou Hikvision Digital Technology Co. is another, one of eight Chinese technology companies facing restrictions over accusations they were involved in human rights violations in Xinjiang. The company said in October that it had stockpiled enough key parts to keep operations going for some time.

Looming silicon curtain

IN October the government formally created a new $29-billion state-backed fund to invest in the semiconductor industry, advancing its goal of reducing dependence on US technology. Statebacked Tsinghua Unigroup Co. is the nation’s top chipmaker and one of the local giants leading the charge. Its most ambitious project is a $22-billion plant in Wuhan that was funded from the first fund in 2014.

Investment in the sector slowed in 2019 after the blacklisting of Fujian Jinhua Integrated Circuit basically shut down one of the countr y’s fastest-grow ing f ledgling chipmakers. Imports of chipmaking equipment are down somewhat on the heights in 2018, when total purchases jumped to over $26 billion from 2017’s $16.4 billion, but China is still importing almost $2 billion a month from the top 5 suppliers.

Bloomberg News

Trump: 2020 G-7 summit will be held at Camp David retreat

AN interpreter translates for President Donald J. Trump as French President Emmanuel Macron speaks during a meeting at Winfield House during the Nato summit on Tuesday, December 3, 2019, in London. AP PHOTO/ EVAN VUCCI

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ONDON—President Donald J. Trump said on Tuesday he’ll host next year’s Group of Seven (G-7) summit at the Camp David presidential retreat, a second choice he’s reluctantly embracing after being pressured into nixing plans to host the gathering at one of his private Florida resorts.

T he W hite House had announced plans in October to host the G-7, scheduled for June 10 to 12, at his Trump National Doral resort near Miami. But he reversed course after bipartisan concern that he’d violate a clause in the constitution that prohibits presidents from accepting gifts or payments from governments.

Acting White House Chief of Staff Mick Mulvaney said at the time that Trump’s hotel was “far and away” the best choice after officials scouted locations in eight states in search of a venue to host the leaders of the world’s major industrial economies.

Mulvaney had also panned Camp David, where President Barack Obama hosted a G-7 summit in 2012, as “too small” and “too remote” when he announced Trump’s resort as the finalist.

“It will be at Camp David,” Trump said on Tuesday after he

was asked about the location.

The G-7 presidency rotates annually among member-countries, and next year is Trump’s turn to play host.

Tr ump sa id t he retreat in northwest Mar yland, about a 90-minute drive from Washington, was close and has “great access” for journalists.

After reversing course, Trump lashed out at Democrats for going “crazy” over the decision. He had said he would host the summit at Doral for free, in an attempt to ease concerns about self-dealing.

Some Republicans also were uncomfortable with the decision to choose Doral.

“Too bad we didn’t have the G7 here,” Trump tweeted just before Thanksgiving after Golf.com named the Doral property as its “Top 100 Resort of the Week.”

“I offered to pick up the entire cost, would have saved at least $35,000,000 for the USA. Best location. Very stupid people thought I would gain. Wrong! Looking at Camp David. Will announce soon,” he wrote.

The G-7 members are Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. AP

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BDO’s Nestor Tan is MAP Management Man of the Year 2019

Fullerton Markets’ ASEAN Tour makes its Philippines debut

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ULLERTON Markets headed to Manila as part of its ASEAN Tour 2019, with the series making a stop in the Philippines for the very first time. Last November 9 at Edsa Shangri-La, Manila in Mandaluyong City, the summit will offer participants powerful strategies for trading success, exclusive updates on market news and economic trends, as well as tips to grow and protect their wealth. The event expects

to gather at least 300 attendees.

Headlining the summit were Fullerton Markets’ CEO Mario Singh, Head of Research and Education Wayne Ko, and Chief Strategist Jimmy Zhu. A globally recognised financial expert and best-selling author, Mario will give insights into making astute investments, including sharing ways to effectively spot a major crash so that traders can best position themselves to

cash in on slowing markets.

Said Mario: “We’re excited to finally bring our summit to the Philippines, where there exists a steadily growing trader community that is ready to take their trading skills and knowledge to the next level. This event presented the opportunity to leverage industry insights, the latest economic updates and trading strategies that have helped so many others, and empower participants to make smarter, more profitable decisions in the financial markets.”

Jimmy Zhu, who has appeared in various international media including CGTN, Channel NewsAsia and Bloomberg, gave an overview of local, regional and global economies and highlight top currency trades to take in the months ahead. Wayne Ko is set to introduce techniques for successful copy trading, major pitfalls to avoid and how to identify profitable traders to copy to start building your passive income.

Maggie Wilson headlines newest Travel show on TV

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ITH 7,641 islands to date, the Philippines never runs out of places to discover and explore. Host, entrepreneur, and leading social media celebrity Maggie Wilson leads us on an adventure around the country with Thank God It’s the Weekend (TGIW), the newest travel show airing on CNN Philippines every Saturday at 9.30 P.M., TGIW features top and emerging local destinations that will surely make your weekends more fun and exciting.

The former beauty queen and fitness enthusiast, who is also known for her gorgeous travel photos that inspire serious wanderlust, takes us deeper into each trip and shares the stories behind the social media snaps.

“As they say, a picture tells a thousand words and we want to do exactly just that on the show - share the story behind that beautiful photo on Instagram or Facebook from your weekend getaway. Traveling is all about the experience - the conversations with people we meet, the history of a place, the different flavors we taste, and that’s not

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Beyond steelmaking

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HE current administration’s Build! Build!

Build! program has fueled the significant growth of the Philippines’ infrastructure sector and along with it, the demand for quality and cost-effective steel.

This presents a great opportunity for the steel industry. But for Melters Steel Corporation (MSC), growth is not just about being able to leverage the booming demand and capturing a significant market share. It is about helping the community.

On November 15, MSC, together with AboitizPower and Aboitiz Foundation, Inc., embarked on a medical mission for its host community in Pampanga. Around 85 residents of Brgy. San Isidro, San Simon, Pampanga underwent free medical and dental consultations, as well as received Php 200,000 worth of medicines.

"We are very thankful to Melters that as their host barangay, we are able to reach out

to them to address our needs, and they have always been willing to help," said San Isidro Brgy. Chairman, Randie Flores.

Apart from the medical mission, other corporate social responsibility initiatives of MSC include disaster relief efforts, computer donation, and cement donation for the rehabilitation of the community church.

"We try to help as much as we can. Anything with regard to the community, we're always here to help," Lance Lim, MSC Assistant Vice President for Human Resources, stated.

SSS recognized as PIA development partner always captured in a single post,” Wilson says.

TGIW comes at an opportune time when the country’s tourism industry is experiencing remarkable growth, including a continuous increase in the number of domestic tourists. The weekly 30-minute show capitalizes on this by featuring destinations ideal for 48 to 72-hour weekend trips.

“There’s always something for everyone in every place we go to. Whatever your interests are, we make sure to feature it to

also help our viewers plan their next trip and say Thank God It’s the Weekend!” Wilson excitedly shares.

TGIW highlights a destination’s nature and adventure-based attractions, culture and history, local cuisine, and health and wellness activities. It might seem a lot in a single weekend, but Wilson’s natural charm and effortless grace makes TGIW’s itineraries something to look forward to every weekend.

Produced by Positive Exposure Productions, Thank God It’s the Weekend.

Jpark Island Resort & Waterpark lights iconic ‘10 Years’ Christmas Tree

PARK Island Resort & Waterpark, Mactan Cebu’s Christmas Tree Lighting Ceremony held last November 19, 2019 marked the launch of the resort’s holiday festivities.

The symbolic lighting of the resort’s Christmas tree and wreath which from afar would give you a picture of the number “10” was spearheaded by Chinese Consul General Jia Li, Lapu-Lapu City First Lady Cindi Chan, Jpark’s Chairman & President Justin Uy, Congresswoman Paz Radaza, CEO Jason Uy, and Jpark’s General Manager Jonathan Nowell.

This year’s theme was “Traditional Christmas.”The program kicked off with Christmas carols from the Angelicus Children’s Choir which was followed

NESTOR V. TAN (CENTER), president and CEO of BDO Unibank, Inc., was recently awarded as Management Man of the Year 2019 by the Management Association of the Philippines (MAP). Tan was awarded for, among others, steering BDO to being consistently ranked by the global financial community as among the best-managed banks in the Philippines. Together with Tan in awarding ceremonies during the Annual MAP General Membership Meeting at the Rizal Ballroom of the Makati Shangri-La were, from left: Atty. Michael T. Toledo, managing director, MVP Group of Companies Media Bureau; Aurelio Montinola III, chair of the MAP Management of the Year judging committee and chair of Far Eastern University; Riza Mantaring, MAP president and board director of Sun Life Grepa Financial Inc.; and Ramoncito S. Fernandez, MAP immediate past president and chair of the MAP Management Man of the Year search committee.

with welcoming words from the resort’s General Manager, Jonathan Nowell. “As we have set in stone our commitment to deliver world-class facilities and topnotch service, we strive even harder to make all our guests and visitors feel the warmth of Filipino Christmas which is relatable to a family setting.

Wherever they come from, regardless of their nationality, we are always here to welcome them as a family,” emphasized

by GM Nowell on his opening speech.

Jpark Island Resort is not only committed to providing the best of Filipino hospitality to its valued guests but also to give back to the community.

Every year, they partner with the LapuLapu City Home Care Center where

disadvantaged children take shelter from. To show gratitude to all the support they’ve received throughout the years, kids from the said home care center sang their hearts out to the event’s guests with some famous Christmas songs.

Guests, even more, felt the warmth of the season with Fidelis Choir’s choice of Christmas songs. The epicure evening further impressed the event’s 300 guests with vivacious performances from Jpark’s very own “Amigos” and special performer, JJ Ang. On the same night, Jpark also launched the resort’s Christmas video campaign entitled “Balik Bata” highlighting the timeless and ageless joys that all guests can experience when they stay at the resort. The video is now up on their social media accounts for everyone to see. “As we rejoice for over a decade of giving light and home to every family this Christmas, this event does not only commence the holiday season but also coincides with the celebration of our 10th year anniversary. As shown on our 2019 Christmas video, we want to show to everyone the timeless and ageless joys celebrated here with your Jpark Family. Allow me to express my heartfelt gratitude to all our guests, partners and clients for always making us part of your “Balik Bata” moments,” Chairman Justin Uy said in his speech.

In the photo, from left: Chinese Consul General Jia Li, Lapu-Lapu City First Lady Cindi Chan, Jpark’s Chairman & President Justin Uy, Congresswoman Paz Radaza, CEO Jason Uy, and Jpark’s General Manager Jonathan Nowell.

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HE state-run Social Security System (SSS) was recognized as one of the Philippine Information Agency’s (PIA) development partners during the Media and Stakeholders Appreciation Program at the Sequoia Hotel in Quezon City.

The SSS was awarded a plaque of appreciation for their partnership with the PIA in communicating SSS programs for an informed and empowered Filipino citizenry.

Photo shows (3rd from left) SSS President and Chief Executive Officer Aurora C. Ignacio

and (2nd from left) SSS Public Affairs and Special Events Division Concurrent Acting Head and Media Affairs Department Manager III Fernando F. Nicolas receiving the plaque of appreciation from (leftmost) PIA Program Management Division Officer-in-Charge Rhea Kristine J. Cy and (rightmost) Presidential Communications Operations Office Undersecretary for Good Governance, Government-Owned and Controlled Corporations and Finance George A. Apacible.

Save the Children Philippines celebrates World Children’s Day at the CCP

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AVE the Children Philippines hosted a storytelling activity that highlighted the rights of children to health, education, protection from all forms of violence, and prompt assistance in times of natural calamities and emergencies.

Around 70 children from Metro Manila gathered at the Cultural Center of the Philippines (CCP) Tanghalang Huseng Batute for the World Children’s Day celebration titled: “Batang Karapat Dapat,” a mini festival on the rights of the child.

The week-long activity culminated with storytelling of children’s books produced by Canvas which tackle children’s rights to have a nurturing home, a safe community, and a healthy environment.

Children from deprived areas in Navotas, Caloocan, and Payatas in Quezon City spoke about their rights to decent housing in the company of a nurturing family, the right to speak their minds, and the right to explore and develop own talents.

Naida Pasion, Chief Business Development Officer of Save the Children Philippines said that ensuing children’s rights is fundamental to any work that they do with children, and is at the core of the Convention on the Rights of the Child (CRC), now on its 30th year of ratification.

“Children should not be perceived as passive recipients of care and protection, or beneficiaries of policy decisions,” said Pasion “Children are agents of change, and our role at Save the Children is to provide platforms to make their voices stronger.”

Child actress Xia Vigor was guest at the event and led child participants to recite the “Panatang Makabata” which highlights the inalienable rights of children to life and survival, development, and protection from all forms of abuse.

Xia called on fellow children to take care of the environment, emphasizing they are the ones who “will inherit the earth.”

Sports BusinessMirror

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| Thursday, December 5, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

MARGIELYN DIDAL (right) and Christiana Means position themselves for a potential gold medal in skateboarding. NONIE REYES

ALL FUN, ALL GAMES IN SKATEBOARDING FORMER world champion Josie Gabuco of the Philippines is declared winner over Raksat Chuthailan of Thailand in a light flyweight clash in women’s boxing.

THE Philippine women’s lawn bowls team rolls its way to a silver medal.

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ARGIELYN DIDAL performed with a flourish as expected and FilipinoAmerican Christiana Means was as good as advertised and the two skateboarding aces were well on their way to a potential gold medal in the 30th Southeast Asian Games on Wednesday.

Didal sailing through the eliminations of the game of skate was a no-brainer in the sport that catapulted her to stardom with her gold medal from last year’s Jakarta Asian Games.

Means? By all means she paved her own way to the finals alongside the Cebuana skateboard sensation in the event that was moved to the covered Sigtuna Hall because the field of play at the Tagaytay City track oval was rendered unplayable by Typhoon Tisoy.

And the way Didal and Means barreled their way to the finals was untypical in any other sport—they had fun throughout the contest witnessed by Tagaytay City Mayor Agnes Tolentino.

“We’re just enjoying ourselves here,” said Didal in Filipino. “Skateboarding is all about having fun and being with friends. That’s what you see here with us.”

Didal, 20, beat Thaw Dar Shin Thant of Myanmar, before eliminating Nyimas Cinta of Indonesia in the semifinals with a “360 shove it” to go on the hill before finishing with an “ollie cross-foot” that the Indonesian could not muster.

Means, who grew up in South Carolina and is now based in Portland, Oregon, humbled Nur Farah Abdullah in the quarterfinals.

Indonesia’s Kyandra Susanto was Means’s foe in the

semifinals but the 22-year-old whose mother, Christina Abrea hails from Pampanga, closed out her performance with a “late shove it” advance deeper in the event.

Daniel Lederman advanced to the semifinals of the men’s contest to also give the Philippines a possible second gold in the sport. He takes on Nguyen Tien Son of Vietnam next.

Lederman bested Suppapit Phetsuk of Thailand and Muhammad Rahman of Singapore in the earlier rounds.

Jeffrey Gonzales, however, exited in the quarterfinals after losing to Hutomo Basral of Indonesia.

Gonzales hurdled Jufry of Singapore in the first round.

Organizers moved the competition indoors in anticipation of rainy weather conditions.

The finals will again be played at the Sigtuna Hall on Thursday.

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Business

Thursday, December 5, 2019

MACROHON GIVES PHL 2ND LIFTING GOLD K

ristel Macrohon proved her worth by ruling the women’s 71kg division on Wednesday, giving the Philippines its second gold medal at the end of the weightlifting competitions of the 30th Southeast Asian Games at the Ninoy Aquino Stadium.

Macrohon, 23, inspired by Olympian Hidilyn Diaz’s golden triumph last Monday, had a total

lift of 216kg (93kg in the snatch and 123kg in the clean and jerk) to relegate favorite Thi Van Nguyen of Vietnam to the silver.

Nguyen had a total lift of 214kg (92kg in the snatch, and 122kg in the clean and jerk).

Indonesian Tsabitha Ramadan settled for the bronze medal with a total lift of 203kg.

Nguyen failed in her last attempt at 125kg in the clean

and jerk, enabling Macrohon, like Diaz—a native of Zamboanga City, to escape with the golden win.

“I’m so overwhelmed. I didn’t expect this because the Vietnamese lifter is really the No. 1 in the division. I thought I could only win a silver. But Hidilyn inspired me to go for the gold,” said Macrohon.

With just one event

left (men’s 73kg) in the fourday competition, Vietnam has clinched the overall title in the discipline with four gold medals on top of four silver and one bronze medals, followed

by Indonesia (3-1-5) and the Philippines (2-3-2).

Myanmar had a lone silver medal in the 10-event competition while Malaysia, the 2017 host, ended its campaign

with a solitary bronze to show, a far cry from its 1-1-1 performance two years ago.

“I’m very happy with the success of the weightlifting competition. We really worked hard for this. I think this is one of the most successful SEA Games as far as weightlifting is concerned,” said Samahang Weightlifting ng Pilipinas President Monico Puentevella.

Singaporean foils PHL bet’s fencing bid

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ahm Kiria Tikanah Abdul gave Singapore its second gold medal in fencing by beating Filipino Hanniel Abella 15-12 in the epee final of the 30th Southeast Asian Games on Wednesday night at the World Trade Center in Pasay City.

Rahm grabbed an early 6-3 lead in the first round, and then took a commanding 13-6 advantage in the second round.

Abella rallied back to trim the deficit to 14-12 late in the third round. But the Singaporean was not to be denied as she connected the winning point to seal the gold medal.

Amita Berthier gave Singapore its first gold medal when she ruled the women’s individual foil event with a victory against compatriot Maxine Wong 15-10 last Tuesday.

Chornnasun Mayakarn also gave Thailand its first gold

JAMES DEIPARINE etches his name in stone at the New Clark City Aquatics Center. ROY DOMINGO

THE Sports Industry Awards (SPIA) Asia honors the 30th Southeast Asian Games as the best organized edition during ceremonies held on Tuesday night at the Grand Hyatt Manila.

Speaker Alan Peter Cayetano is joined by SPIA CEO Eric Gottschalk, Philippine Olympic Committee President Rep. Abraham Tolentino, Philippine SEA Games Organizing Committee COO Ramon Suzara, international football legend Ronaldo Nazario and Olympic track champion Dr. Edwin Moses.

in the event following a thrilling 15-14 win over Malaysia’s Hans Yoong in the men’s individual foil event.

Yoong defeated Nathaniel Perez of the Philippines 15-11 in the semifinal round, while Mayakarn defeated Singapore’s Joshua Ian Lim 15-13 in the other semifinal pairing.

Perez settled for the bronze medal, the second for the host nation as he joined Samantha Catantan, who also got the bronze last Tuesday in the individual women’s foil event.

Abella’s silver was also the second for the Philippines.

Christian Concepcion took a bronze medal following a 15-13 setback to Vietnam’s Vu Thanh An in the men’s individual sabre.

ESPORTS MAKES SEA GAMES DEBUT

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Sports makes its debut in the 30th Southeast Asian Games on Thursday with the 27-man Philippine team holding fort against the best professional gamers from the region in the six-day competition at the Filoil Flying V Centre in San Juan City.

Six events are on tap

Noemi Candari and Helen Dawa in action in the eliminations of the women’s ju-no-kata event at the Laus Group Event Centre in San Fernando, Pampanga. ROY DOMINGO

THE Philippines’s Emmanuel Portacio strikes the ball in lawn bowls where the men’s four squad snatches the bronze medal at the Clark Freeport Zone in Pampanga. ROY DOMINGO

JoEmar Gallaza (blue short) and Jerome Calica (red short) in an all-Filipino clash in muay thai’s waikru and mai at the Subic Bay Exhibition and Convention Center. NONOY LACZA

Vietnam spikers foil Pinays’ comeback bid

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ietnam held its ground in the face of a determined comeback by the Philippines, scoring a 21-25, 25-23, 25-19, 20-25, 15-8 victory late Tuesday in women’s volleyball action of the 30th Southeast Asian Games at the PhilSports Arena in Pasig City.

The Filipinas, led by Alyssa Valdez and Jovelyn Gonzaga, caught fire in the fourth

to force a deciding set, but failed to respond when the Vietnamese went on a big closing surge.

Tran Thi Thanh Thuy led Vietnam with 27 points. Thi Xuan Nguyen and Thi Nga Bui chipped in 15 and 14 points, respectively, while Thi Kieu Trinh Hoang added 10.

“The game was not for us. But the team gave its best, we even managed to

extend the match to five sets, but we still came up short,” said Philippine Coach Shaq de los Santos. “It was a lesson learned for us.”

Valdez led the Philippines with 22 points, while Gonzaga, who sparked the comeback of the team in the fourth set, had 12 points. Ces Molina also had 12 markers, while Majoy Baron added 10.

With the loss, the Philippines needs to win its last two games in the four-team field to keep its gold-medal hopes. The top 2 teams will advance to the finals, while the bottom two clash for the bronze.

The Filipinas battle defending champion Thailand on Thursday at 6 p.m.

The Thais overpowered Indonesia 25-13, 25-15, 25-9 on Tuesday to kick off their bid for a 12th straight crown. Pumpichaya Kokram and Wilavan Apinyapong led the Thais with 15 and 10 points, respectively.

in the inaugural staging of eSports in the biennial event and these are divided to three categories: PC, console and mobile.

Dota 2, Heartstone and Starcraft II are PC games, the ultra-popular Mobile Legends: Bang Bang and Arena of Valor in mobile category, and Tekken 2 in console event.

Team Sibol, or the national squad in eSports bankrolled by Smart, took charge in the tryouts and has heavily supported the Filipinos during their training.

Mobile Legends opens hostilities at 12:15 p.m., with the crew of Kenneth Jiane “Kenji” Villa, Karl Gabriel “KarlTzy” Nepomuceno, Carlito “Ribo” Ribo, Jeniel “Haze” Bata-anon, Angelo Kyle “Pheww” Arcangel, Allan Sancio “Lusty” Castromayor and Jason Rafael “Jay” Torculas bannering the host nation.

Next up is Starcraft, as Justin “NuksPH” Santos and Caviar “Enderr” Acampado start their campaign at 2 p.m.

Dustin “WaningMoon” Mangulabnan and Jacinta “Jia” Dee cap off the day when they see action in Heartstone at 5:15 p.m.

Smart pledged to reward P2 million for the gold medal winner of team events (Dota 2, Mobile Legends, Arena of Valor), and P1 million to individual events (Tekken 7, Heartstone and Starcraft II).

Ramon Rafael Bonilla

GOLD M IN POO

James Deiparine rules t breaststroke not only to w Southeast Asian Games g but also set a new record.

By Ramon Rafael Bonilla

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AMES DEIPARINE swam like a fish in the world-class New Clark City Aquatics Center on Wednesday night to end the Philippines’s 10-year gold-medal drought in swimming in the 30th Southeast Asian Games.

Deiparine clocked one minute and 1.46 seconds in ruling the men’s 100 meters breaststroke to also book a new SEA Games record, breaking the previous mark of 1:01.60 set by Vietnam’s Nguyen Huu in the Laos 2009 edition of the multisport, biennial competitions.

“It’s just mixed emotions right now. I just want to thank God, my family, for the support. This means so much for my family, and with the crowd cheering for me, it’s just incredible,” Deiparine said.

Thousands were on the stands to cheer the Filipino swimmers at the brand-new facility put up by the Bases Conversion and Development Authority and, with the overwhelming crowd support, Deiparine made sure history was etched in the very spot that gained global infamy in World War II. Capas was the final destination of hundreds of Filipino and American prisoners of war who were forced

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Thursday, December 5, 2019

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Pagdanganan sets pace with 70 in women’s golf L

ADIES Professional Golf Association (LPGA) Tour-bound Bianca Pagdanganan birdied three of the last five holes at the front to shoot a two-under 70 and seize a one-stroke lead over Thailand’s Kan Bunnabodee at the start of the women’s golf competitions of the 30th Southeast Asian Games at Luisita Golf and Country Club in Tarlac on Wednesday.

On target all day, the Asian Games bronze medalist struggled with her putting but bounced back from a missed green bogey mishap on No. 15 with that scorching windup spiked by back-to-back birdies from No. 5 in a big finish in a challenging day and a solid start to her gold-medal drive in the women’s individual play.

Bunnabodee matched the Filipina ace’s sizzling finish in hot conditions with birdies on Nos. 5, 7 and 8 as she shot a 71 and took the challenger’s role as compatriot, and world No. 1 Atthaya Thithikul groped for form all day and hobbled with a 75.

“My ball striking was on point. I game myself a lot of birdie opportunities to make birdies but I just made three. It could’ve been more,” said the Gonzaga U product, who came into the event in top form, having hurdled the grueling four-stage LPGA Q-School.

“I think being able to hit 17 greens was really good for me. I was able to stay out of the rough where it was really tough,” she added. “Overall, I just got to work on my putting and roll in some more.”

Lois Kaye Go, who teamed up with Pagdanganan and gold medalist Yuka Saso in the Phl’s gold-medal romp in last year’s Asiad in Jakarta, actually set the pace with a gutsy backside 36. But the Cebuana find wavered with four bogeys in a roller-coaster frontside stint that also featured three birdies, finishing with a 73 for fourth behind

MEDAL DROUGHT OL FINALLY ENDS

the men’s 100 meters win the Philippines’s first gold medal in 10 years .

Polo matches postponed for second straight day

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Yet the contest belonged solely to the hometown bet, who mustered all his energy in the last 10 meters to snatch the gold medal with enough to spare.

Pham took the silver with 1:01.92, while Chien settled for the bronze with 1:01.98 in one of the finals of the swimming competitions that feature Michael Phelps-slayer Daniel Schooling of Singapore.

Another Philippine bet, Remedy Rule, gave Singapore’s five-time SEA Games champion Jing Wen Quah the scare of her life in a photo finish in the women’s 200-m butterfly. Quah nabbed the gold with 2:10.97—just a hairline of a lead over Rule’s 2:10.99.

Still, the Filipina’s silver-medal performance was worthy of a new national record.

Rio Olympian Jasmine Alkhaldi did the same in the women’s 100-m freestyle where she eclipsed her own Philippine record of 55.76 seconds. She claimed the bronze with Quah clinching gold.

In Day Two of the swimming events, Alberto Batungbacal and Miguel Barreto join men’s 1,500-m freestyle; Chloe Isleta and Alkhaldi in women’s 50-m backstroke; Desirae Mangaoang and Thanya de la Cruz in women’s 200-m breaststroke; Jarod Hatch and Thomas Peregrina in men’s 200-m IM; and Rule, Alkhaldi, Nicole Oliva and Xiandi Chua in 4x200-m freestyle relay.

to walk all the way from Mariveles in Bataan, the country’s last stand during the Japanese occupation some eight decades ago.

This time, it was sweet and victorious history that was drawn by a Filipino-American swimmer.

It was also in Laos in 2009 when another FilipinoAmerican, Miguel Molina, won the Philippines’s last gold medals in the SEA Games in the 200 and 400 individual medley.

The Philippine gold haul in the Laos pool included those by Daniel Coakley in the 50-m freestyle and Ryan Arabejo in the 1,500-m freestyle.

Chased closely from the blocks by Vietnam’s Thanh Bao Pham and Chien Yin Lionel Khoo of region swimming powerhouse Singapore, Deiparine needled through the waters and roared past his closest rivals after the first turn.

Pham, who had a so-so result in the preliminaries, tried to catch Deiparine who had built a half-body lead after the first 50 meters.

FILIPINO nets in obstacle sports rise to the occasion with four gold medals.

FOUR GOLD MEDALS BAGGED IN OBSTACLE SPORT

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bstacle sport race made a rousing debut in the 30th Southeast Asian Games and it was made even sweeter when the host nation bagged four gold medals on Wednesday at the Filinvest City in Alabang.

The quartet of Kyle Redentor Antolin,

Kaizen de la Serna, Monolito Divina and Deanne Moncada timed three minutes and 49.37 seconds to rule the mixed team assist 400x12-m race.

The Malaysian team was far behind at 4:40.72 to settle with silver, while the

Golden golf Tessa Jazmines tessa4347@gmail.com

PART OF THE GAME With Filipinos hogging most of the medals in the ongoing Southeast Asian Games 2019, a lot of hopes are pinned again on the Philippine Golf Team that won two of the four golds won by the Philippines in the 2018 Asian Games in Jakarta.

The country won 21 medals total in the AG, which improved our overall finish to 19th place—a marked improvement from the 22nd place we held in the previous 2014 Asian Games edition, but still short of sports officials’ 15th place target.

Thanks to golf, weightlifting (Hidilyn Diaz) and skateboarding (Margielyn Didal), we didn’t go zero in

our quest for gold. And now, with the golf tournament under way in the scenic Luisita Golf and Country Club in Tarlac, we are hoping our young golfers deliver again in this gentlemen’s game. All eyes will be on golf from December 4 to 8.

The Philippine women’s team is anchored on Bianca Pagdanganan, who won the gold in Jakarta with Yuka Saso and Lois Kaye Go. Saso has been sidelined by injury this time around and cannot join the team, but Pagdanganan is confident she and her stalwart crew can swing it.

The 22-year-old Bianca is tied for 38th in the

Indonesians submitted 4:35.57 for bronze medal.

Undone with its haul, Diana Buhler, Jeffrey Reginio, Klymille Rodriguez and Nathaniel Sanchez booked 2:00.92 to top the mixed team relay 400x12-m event.

2019 LPGA Q-Series last November, a confidenceboosting development that will work in her and the Philippines’s favor when they face the competition in Luisita. That plus her five amateur wins, with the latest coming from the Hawkeye El Tigre Invitational in March, ought to add to her morale and jack-up her stock.

As for the men’s team, it is made up of Aidric Chan, Carl Corpus, Luis Miguel Castro, and Sean John Ramos. Aidri, a gifted young golfer on scholarship at the University of Arizona (like Pagdanganan and teammate Corpus) is winner of the 2019 IMG Academy Junior World Championships at Torrey Pines in San Diego this July and the first Filipino to win it after 33 years.

He was also winner of the Junior Amateur Open Championship, the Riviera MVPSF Amateur Championship and the Northern Luzon Regional Amateur Championship. He had a runnerup finish in the prestigious Callaway Future Champions Golf Championship.

Like Bianca, Aidric is raring to go in the 2019 SEA Games, eager to win a gold for the country. He thinks

Malaysia’s Natasha Oon, who matched par 72 with a birdie on the ninth.

Abby Arevalo, the other Pinay in the fold, limped with a backside 40 and ended up with a 79 for joint 13th with two others in the 17-player field involving six nations.

Thitikul, also the first amateur to win a Ladies European Tour event in 2017 and winner of the inaugural Women’s Amateur Asia-Pacific Championship last year, dropped two strokes on the par-5 12th and bogeyed Nos. 13 and 1, although she birdied No. 6 to salvage a 36-29 for joint seventh with Indonesia’s Ribka Vania with another Thai, Pimnipa Panthong in joint fifth with Ida Ayu Putri, also of Indonesia, at 74.

Four players, meanwhile, forged ahead in men’s play with Thais David Boriboonsub and Nopparat Panichpol churning out identical four-under 68s to share the lead with Singapore’s James Leow and Hiroshi Tai. But the Philippines’s Sean Ramos holed out with a birdie on the tough No. 18 to save a 69 and stay within striking distance of the leaders, guaranteeing a spirited battle for the gold in men’s individual play also set over 54 holes.

The three other Pinoys, however, will have a lot of catching up to do in the last 36 holes to figure in the medal race as Carl Corpuz, Aidric Chan and Luis Castro sputtered with identical 74s to lay six shots off the pace.

Thai Tanapat Pichaikool and Indonesia’s Almay Yagutah matched Ramos three-under card while Nickluas Chiam of Singapore, Naraajie Ramadhan Putra of Indonesia and Malaysia’s Rhaasrikanesh Kanavathi turned in similar 70s while three others shot 71s, including the Thai’s top bet, Vanchai Luangnitikul, who, with Thitikul, won the mixed team event gold in last year’s Youth Olympics in Argentina.

Malaysia (2:05.38) and Indonesia (2:07.24) finished second and third, respectively.

The host athletes also stamped their class in the individual events—Rochelle Suarez and Kevin Jeffrey Pascua dominated the 100mx10 races.

Suarez tallied 46.70 seconds to outdo fellow Filipino Milky Mae Tejares (47.88 the Philippines is good for one to four gold medals.

The home team is banking on its advantage of course familiarity and the combined achievements of its individual members. The Robert Trent Jones Sr.-designed course with its rugged terrain and rolling fairways has been the site of top-level golf competitions including the Philippine Open in 2015 and is quite a challenge.

But tough competition is going to come from the Thai team, especially the women.

Thailand looks to make a clean sweep of four gold medals in the SEA Games. US-based Thanapt Pichaikul from Mississippi State University leads the men’s team while the women’s squad is captained by Atthaya Thitikul who won both team and individual titles at the 2017 SEA Games in Malaysia.

The Philippines’s women’s team won bronze in Malaysia courtesy of Lois Go. Thailand won three gold medals, with Atthaya claiming both the women’s team and individual honors. Atthaya is the top amateur in the world. nnn

seconds) in the women’s side, while Jie Yi Tan of Malaysia listed 57.18 seconds for bronze.

Pascua, on the other hand, finished with 29.92 seconds to reign in the men’s side, as Malaysian Mohd Redha Rozlan (34.01 seconds) and local bet Mark Julius Rodelas (32.94 seconds) followed suit.

Ramon Rafael Bonilla

Speaking of golf, DreamBig Events is holding its Gold Series Golf Camp and Tournament at Orchard Golf & Country Club from December 16 to 18.

Headlined as The Road To US College Golf, the DreamBig golf camp will be preceded by the first-ever Future Champions Golf (FCG)-DreamBig Golf Challenger Series on December 16 and 17, a qualifier for the FCG Callaway World Championship. The Winner of each age division in the Orchard tournament will qualify for direct entry to the FCG Callaway World Junior Golf Championship 2020 that will take place at Rancho Mirage, California on July 13 to 15, 2020.

Golf Coaches from topmost schools in the US NCAA Division 1—UCLA (University of California—Los Angeles), Columbia University and UC Berkeley—will run the two-day golf clinic and oversee the two-day FCG Golf Tournament.

Open to all junior golfers aged 12 to 18 years old, interested junior golfers and their parents have a choice of participating in both the tournament and the golf camp, or just one of the two activities.

Akshay Maliwal, DreamBig founder and CEO, explained that the camp opens up the

or the safety of the players, as well as their expensive horses, competitions in the 0-2 goals of polo in the 30th SEA Games at the Miguel Romero Polo Facility in Calatagan, Batangas, were postponed for the second straight day.

Due to heavy rains brought about by Typhoon Tisoy on Tuesday, organizers have to restore the playing field to its “finest” condition to guarantee the safety of everybody and provide a perfect venue for what could be a “battle royale” among gentlemen riding in elegant horses.

The Philippines—composed of Jose Antonio Veloso, Noel Vecinal, Benjamin Eusebio, Julian Garcia, Franchesca Nicole Eusebio, Stefano Juban and Rep. Mikee Romero, was to meet Malaysia in an early showdown of the favorites.

“Nakakapanghinayang since everybody is ready and excited to play na sana, but we have to follow the recommendation of the officials. This is for our satefy,” Romero said.

Also postponed was the match between Indonesia and Singapore.

Weather permitting, the IndonesiaBrunei match will be played at 12:30 p.m., before the Nationals collide with the Malaysians at 3 p.m.

The next game will be played on Friday then take a break on Saturday, before resuming on Sunday.

The battle for the bragging rights for the premier polo nation is set on Monday.

Malaysia took first of two golds up in the oldest recorded team sport on Sunday by topping the 4-6 goals division. pathway to college golf in the US, which, in turn, will help athletes develop their athleticism and prepare them to compete on the world stage while they become a legitimate part of the US College athletics ecosystem.

“These camps do not just hone young athletes’ skills, they introduce and familiarize athletes with the college recruiting process and lets them experience, even for two days, a day in the life of a college athlete at a top academic and athletic university,” Maliwal added.

Aidric Chan is a Filipino athlete who has been part of the DreamBig program.“Aidric is one Philippines’s most gifted golfers. His future is secure because he has a great academic foundation, given that he is on a scholarship at Uni of Arizona.

Representing Philippines at the SEA Games is a great honor for him and solidifies his intention to raise the flag high for Philippines and go for gold! Watch out for this guy, he is one of the hottest golfers in SEA and US college golf. Exciting times ahead!”

Here’s wishing our golfers golden luck all the way to December 8.

TOKYO 2020 IN HOT WATER

Sports BusinessMirror

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| Thursday, December 5, 2019 mirror_sports@yahoo.com.ph Editor: Jun Lomibao

Known as the “Odaiba Marine Park,” the water temperatures there were near danger levels in test events this summer for open-water swimming and triathlon. E. coli levels also plague the urban venue, and athletes have complained about the odors coming from the small inlet.

Spotlight on US, refugee teams

Federer’s face to be minted on Swiss coin

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The Swiss government says it’s the first time it has dedicated a commemorative coin to a living person—Roger Federer. AP

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ERN, Switzerland—The Swiss government says it will produce a 20 franc silver coin with Roger Federer’s image on it.

The government says it’s the first time it has dedicated a commemorative coin to a living person.

A 50 franc gold coin with Federer’s image on it will be minted next year.

The government says the 20-time Grand Slam champion is “probably Switzerland’s most successful individual sportsman, he is also the perfect ambassador for Switzerland.”

The “heads” side of the coin shows Federer playing a one-handed backhand.

The government says a limited edition of up to 95,000 Federer coins can be ordered, costing 30 Swiss francs. They will be dispatched in January.

The 50 franc coin will have a different design.

Tennis Australia, meanwhile, has confirmed it plans to honor Margaret Court’s 50th anniversary of her 1970 Grand Slam during January’s Australian Open, but stressed her controversial anti-gay views “do not align with our values of

equality, diversity and inclusion.”

Court won 24 Grand Slam singles titles, including the French Open, Wimbledon, US Open and Australian Open in 1970.

“This is an incredible milestone for me, and I can’t quite believe how quickly the time has gone,” Court was quoted as saying in a Tennis Australia statement on Saturday.

Now a Christian pastor in Western Australia state, the 77-year-old Court caused controversy in 2017 by saying the devil was to blame for young people questioning their sexuality and wrote a public letter urging Australians to vote against same-sex marriage “for the sake of Australia, our children, and our children’s children.” Same-sex marriage has since been legalized in Australia.

She has been criticized by Billie Jean King, among others in women’s tennis. Some critics have urged Tennis Australia to change the name of Margaret Court Arena, which is one of the main show courts at Melbourne Park, where the Open will be held from January 20 to February 2. AP

CLIPPERS KEEP PILING UP WINS L

OS ANGELES—The Clippers are still figuring things out even while they’re piling up wins.

Their latest came with the bench outscoring the starters, 66-51.

Montrezl Harrell scored 26 points, Paul George added 25 and Los Angeles pulled away in the second half to beat the Portland Trail Blazers, 117-97, on Tuesday night.

“The best thing about this team is we’re not near where we’re going to be,” Coach Doc Rivers said.

Kawhi Leonard had an off-night offensively, scoring 11 points on 3-of-15 shooting, but still helped extend the Clippers’ franchise-best start at home to 13-1.

“He set the tone with his passing,” Rivers said. “Early he tried to get everybody else going and then he tried to get himself going.”

CJ McCollum scored 20 points, Hassan Whiteside had 18 points and 13 rebounds, and Damian Lillard added 16 points on 5-of-15 shooting for the Blazers, whose three-game winning streak ended.

Carmelo Anthony had nine points and six rebounds two weeks after signing with the Blazers in his return to the NBA. Lillard and Anthony were held under their scoring averages.

The game was tied 10 times in the first half before the Clippers eked out a 62-59 lead at halftime. The Blazers shot 52 percent in the first half; the Clippers shot 50 percent.

“At halftime we didn’t make any adjustments,” Rivers said. “We said something’s going to give. We either start defending or we’re really going to have a tough night.”

The Clippers outscored the Blazers 27-17 in the third.

Portland’s shooting dipped to 26 percent while McCollum had five points and Lillard two in the period.

“Just imposing our will on the defensive end of the floor, causing havoc that led to us scoring a lot of points,” Harrell said.

George and Leonard took over to start the third. They each hit 3-pointers and George had a steal and a dunk to go with a free throw from Leonard as part of a 14-3 run that gave the Clippers a 76-62 lead.

The Blazers answered with seven straight points to trail by seven. Harrell dominated the rest of the quarter, scoring nine points in the Clippers’ 21-7 run over the end of the third and start of the fourth that extended their lead to 96-76.

“They basically got what they wanted in the second half and we didn’t have an answer,” McCollum said.

George tied his season high by making six of seven 3-pointers, some arcing like rainbows on their way into the net. As a team, the Clippers made 17 3-pointers on 34 attempts, with Patrick Patterson scoring 15 of his 19 points on threes.

“It just shows how deep they are, how many guys they can turn to and how much production they get across the board that Patrick Patterson can come in and have a big night and Montrezl Harrell can come in and have a big night,” Lillard said. “When you double-team or you trap and they kick it out, they’re throwing the ball out to guys who can play.”

Patterson and George connected on back-to-back 3-pointers in the fourth before George and Leonard sat down for good with 3:57 remaining. AP

THE Blazers’ Damian Lillard (left) defends against the Clippers’ Kawhi Leonard. AP

AUSANNE, Switzerland—The United States and refugee Olympic teams will take more prominent places in the athlete parade at the opening ceremony for the 2020 Tokyo Games.

The International Olympic Committee (IOC) says the procession order is changing to give certain teams extra prominence.

Following Olympic tradition, Greece’s team leads the parade on July 24.

After Tuesday’s decision by the IOC executive board, the refugee team will come second instead of the first nation by alphabetical order, Afghanistan.

The IOC also wants to promote future Olympic host nations by placing them immediately before the current host, which traditionally closes the parade.

In Tokyo, the final three teams marching in will be: the US., which hosts the 2028 Los Angeles Olympics; France, hosting in 2024 in Paris; and finally Japan. AP

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OKYO—The International Olympic Committee (IOC) moved next year’s Tokyo Olympic marathons and race walks out of the Japanese capital to avoid the stifling heat and humidity.

Now some swimmers and an 11,000-member coaching body are asking that something similar should be done with the distance-swimming venue in Tokyo Bay. Known as the “Odaiba Marine Park,” the water temperatures there were near danger levels in test events this summer for open-water swimming and triathlon. E. coli levels also plague the urban venue, and athletes have complained about the odors coming from the small inlet.

“Here’s the reality,” Catherine Kase, who coaches open water for the United States Olympic team, said in an e-mail to The Associated Press. “If a marathoner faints or passes out, they may get a few bumps and bruises. If the same thing happens to an open-water swimmer, the result could be lethal.”

Tokyo’s heat again is the main problem.

Water temperatures in the venue this summer were very warm, climbing one day to 30.5 Celsius (86.9 Fahrenheit). That’s barely under the limit of 310C (87.80F) set by swimming’s world governing body Fina. The temperatures were consistently in the 290C-300C (840F-860F) range.

Fina rules specify that the race will be shortened or canceled if temperatures go over the limit.

“For all open-water swims alternative plans should be made in case environmental factors make the swim unsafe forcing it to be canceled or curtailed, Kase added.

“We would like to push for a viable back-up plan. The straightforward answer is that we are not comfortable with the Odaiba venue.”

Kase noted that US swimmers are advised against participating if temperatures exceed 29.450C (850F).

She also said US swimmers can still choose to swim “and will likely feel

pressure to do so” at big events like the Olympics.

“Our athletes shouldn’t have to worry about health concerns as they’re preparing to compete in the race of their lives,” Kase wrote.

The venue also has water quality issues including E. coli bacteria and problems with water transparency. Tokyo organizers say bacteria levels fall within “agreed limits,” on most days, though rainfall exacerbates the problem.

John Leonard, the executive director of the American Swimming Coaches Association, was even more emphatic about a move and placed much of the blame on Fina.

“We support a change in venue,” he said in an e-mail to AP. “The ASCA position is always to err on the side of safety for the athletes.

Fina talks about safety and then does the opposite and puts athletes in harm’s way.”

Fina and local organizers say there is no “B Plan.”

The International Olympic Committee promised last month there would be no more venue changes. It made this pledge after angering Tokyo Governor Yuriko Koike, who strongly opposed moving the marathons out of Tokyo to the norther city of Sapporo.

The IOC said the decision was made, primarily to consider athletes who must run in the heat. But Koike’s allies

ATHLETES dive into the water at the start line during a women’s triathlon test event at the Odaiba Marine Park in Tokyo. AP

characterized it as “an IOC-first decision, not an athletesfirst decision.”

Cornel Marculescu, the executive director of Fina, spoke cautiously in an interview with AP. Asked about the water temperatures at the venue, Marculescu replied: “I don’t want to comment,” he said, and suggested that elaborating could cause “problems.”

“This is what it is,” he added. “We check the quality of the water, we check the temperature all the time.”

Marculescu and local organizers say race times could to be moved up to very early in the morning, hoping to beat the heat. That was also an early strategy for the marathons and race walks before they were moved.

Athletes in outdoor water events at the 2016 Rio de Janeiro Olympics faced severe pollution in venues for rowing, sailing, canoeing, open-water swimming, and triathlon. But heat was not an issue.

“We are following up with a company there [in Japan],” Marculescu said, “like we have done in Rio—the same story—with an official government company. We are looking at water temperatures, the quality of the water and all these kinds of things.”

Water temperature was linked to the death of American swimmer Fran Crippen in 2010 at a distance swim in the United Arab Emirates. The autopsy concluded his death was from drowning, heat exhaustion, and included the possibility of a heart abnormality.

It was the first competitive death in Fina’s history, and much of the blame was aimed at the swim body.

The United States and Canada both withdrew their swimmers from an open-water race in October in Doha, Qatar. The race took place in the same body of water where Crippen died.

Temperatures were again reported right at the Fina limit, and some reports said they were slightly above the limit.

In an e-mail, the Canadian Olympic Committee did not address the water issue specifically but said “we remain confident that the organizing committee and the IOC will take every precaution to ensure that the games are held safely and successfully.”

Fernando Possenti, the open-water coach for the Brazilian Olympic team, said athletes need to deal with the environment and not waste time complaining about it.

“Program yourself, adapt your athletes to this kind of condition,” Possenti said in an e-mail to AP. “This particular sport contemplates direct contact with nature and its variables. Heat and humidity are two of them.”

The Odaiba venue was picked partly because it offers picturesque 180-degree views of the skyscrapers that hug Tokyo Bay and the bridges that cross it.

Television has a powerful say in scheduling and venue location. About three quarters of the IOC income is from broadcast rights. The American network NBC has agreed to pay $7.75 billion to broadcast the Summer and Winter Olympics from 2022 through 2032.

In Tokyo, to counter E. coli levels, organizers have installed underwater screens that work as a filter. E. coli was within agreed limits on all but one day in test events this summer.

But the screens also appeared to drive up water temperatures, and organizers plan to install triple screens for the Olympics.

In a statement, Tokyo Spokesman Masa Takaya said “we will consider operating methods that can help suppress water temperatures, such as allowing the underwater screens to float, and opening them when the weather is good.”

Maker of Heaven and Earth

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EAR God, Your creativity and fidelity are unending. In hope we pray to You: Let us know Your saving power, oh God. You set prisoners free: free those who are unjustly captivated. You furnish bread to the hungry: make us mindful of those who hunger for the Bread of Life. You protect the stranger: keep safe those who are homeless, fleeing danger or seeking refuge in a new land. May God give us the gace to be faithful in this life and happy in the life to come, through Jesus, the prince of peace. Amen.

GIVE US THIS DAY, SHARED BY LUISA LACSON, HFL Word&Life Publications • teacherlouie1965@yahoo.com

Editor: Gerard S. Ramos • lifestylebusinessmirror@gmail.com

❶ FLAVORS of the Region Degustacion

Life

MOMMY NO LIMITS: WANTED: AN ‘ACTIVE’ FAMILY GIFT LIST—PART II D3

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Thursday, December 5, 2019

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❷ DAHILAYAN Adventure Park

❸ SEDA Centrio Hotel

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STRAPPED up, Supermanstyle, and ready to go

❺ PINEGROVE Mountain Lodge

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NorthMin spells food and fun

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By BENJamiN layUG

HE last time I visited Cagayan de Oro City in Misamis Oriental, was way back in 2002 when I used the city as my stepping stone going to Camiguin. Seventeen years later, I am back, this time to cover with a group of bloggers the Northern Mindanao leg of the Department of Tourism’s “Kain Na!” Food and Travel Festival, part of a nationwide series designed to create awareness and interest in Filipino cuisine and tourism destinations.

This time around, we arrived at the city via Laguindingan Airport (which replaced the old Lumbia Airport, now a Philippine Air Force base), Mindanao’s second-busiest airport (after that in Davao City), and the first airport in Northern Mindanao that serves the cities of Cagayan de Oro, Iligan and Marawi, as well as the provinces of Misamis Oriental, Lanao del Norte and Bukidnon.

We arrived in the upscale Seda Centrio Mall in time for the opening of the three-day festival. One of the highlights of the opening ceremony of Kain Na Food and Travel Festival was the flavors of the Region Degustacion where a whole yellowfin tuna was carved and the slices served kinilaw-style (literally “eaten raw”) to guests.

The festival exhibitors, all tourism stakeholders of sustainable and inclusive tourism programs and specializing in wonderful food holidays, included hotels and restaurants, as well as farm resorts, agro industry groups, eco-farm adventure parks, transport

operators, universities, and local government unit tourism offices.

Presented were organic vegetables, juices, local herbs, concoctions, crop-based delicacies, handicrafts, culinary tour packages, some of the region’s favorite dishes (chicken surol, roast beef, the famous binaki, beef rendang, humba de oro, sinuglaw, inun-unan na pidlayan, the Maranao staple chicken piaparan, etc.) and the region’s specialty food products (Iligan City’s wide selection of unique coffee blends; Camiguin’s coffee blends and classic Vjandep Pastel, local tea and wine; red, brown and black rice; coconut vinegar, tuna chicharon, the crunchy kiping, palapa, etc.). The festival also featured prominent chefs from top hotels and restaurants from different regions who featured, in a demonstration series, their wide array of special, exotic and authentic recipes for the degustation of special guests.

After lunch (which included some of the aforementioned dishes), we checked in at the Seda Centrio Hotel, which shares a roof with and is connected to the mall but has its own private entrance that leads to the front desk at the sleek, contemporary, stylish and cozy minimalist-style lobby on the fourth floor. This lifestyle hotel, opened on December 29, 2012, has 150 spacious and well-appointed rooms, spread over 11 floors.

After freshening up and a short rest, we again gathered at the lobby where a van awaited to take us on a 57.3 kilometer/1.5-hour drive, along the Sayre Highway, to Dahilayan Adventure Park, in the town

SUPERSTORE OFFERS MEMBERSHIP FEE DISCOUNT TO TRAVELERS, ‘BALIKBAYANS’

of Manolo Fortich, in the adjoining province of Bukidnon. Dahilayan is famous for its Zipzone, two dual zip lines, with a drop of 100 meters, which are said to be the longest in Asia at 840-meter long. It was an opportunity too good to miss, and we were excited to try it out. After being suited up with helmets, harness and other safety gear, we all boarded a 4WD Safari vehicle for the short drive to the launch tower 4,500 feet above sea level.

Upon arrival, we were strapped in a face-down position, Superman-style, and then zoomed through the lush rain forest canopy at 60 kilometers to 80 kilometers per hour. Midway through my flight, it had already started to rain and I was already soaked when we landed safely at a platform deck using a special arresting gear system. Still, we got the thrill of our life from this scream-inducing ride.

We were also slated to try out the Skytower Base Jump ride, the highest para jump in the Philippines, but the persistent rain prevented us from doing so.

Maybe next time. Prior to returning to Cagayan de Oro City, we had coffee and snacks (I had the lava cake) at the restaurant of the adjoining Pinegrove Mountain Lodge. Come morning, after a buffet breakfast at the hotel’s Misto Restaurant, we checked out of the hotel and boarded our van that would take us to the airport for our return flight to Manila. Along the way, we made a short stopover at the Vjandep Bakeshop along, the Bulua National Highway, where we bought Vjandep Pastel (a soft bun made of sweet yema) for pasalubong to loved ones. n

THE holiday season is enough reason for cheer, of course, but there is more delightful news for balikbayans and travelers. Landers Superstore (www.landers.ph), the fastest-growing membership shopping establishment in the country, is offering 50-percent off on new membership and renewal fees for balikbayans and travelers flying in from international destinations.

To avail themselves of the offer, customers must present their boarding pass from any airline coming from outside the Philippines and arriving in Manila, or Cebu. The boarding pass must be presented together with any valid ID at the membership counter at any Landers Superstore branch to get half the price on new membership/renewal fees, for a total payment of P400 (regular fee: P800).

The owner of the boarding pass must personally present the boarding pass to the store to avail themselves of the promo. If, for any reason, the owner of the boarding pass will not be able to utilize the membership, he/she can nominate one person to claim the promo on his/her place.

Owner must visit the store personally along with his/her nominated person.

The offer is valid until December 31, at any Landers Superstore branch, in Metro Manila and Cebu.

Why Singapore has a special place in the heart of Manzano-Reyes family THE beach-loving Manzano-Reyes family spends a sunny day on one of Singapore’s most pristine southern islands— Lazarus Island.

THOSE with a passion for traveling know there are some places worth coming back to. Whether it’s due to a destination’s breathtaking sights, mouthwatering cuisine, rich and colorful culture, or warm and welcoming people, these spots are near and dear to the heart, despite how far they may actually be.

Close to home and even closer to the heart, Singapore is that kind of destination for the Manzano-Reyes family.

According to vlogger and radio host Andi Manzano-Reyes, the family enjoys frequent visits to the Lion City, as they constantly look for hidden gems to uncover. “We just love the city. It’s vibrant, safe, there are so many things to do and discover, and it’s kid-friendly.” Her husband, entrepreneur and creative director, GP, shares the same sentiments, “We try to go two to three times a year, primarily, because we truly love the city. It has everything for everyone.”

When GP says Singapore has everything for everyone, he is referring to more than just the plethora of activities and attractions. The city is more than just the sum of its attractions, exuding a vibe that makes travelers feel that this is a place where they can pursue everything they love and make

their passions possible.

For a family of varied hobbies and interests, Singapore has proven to be a destination where their different passion points converge. When asked about their favorite things to do in Singapore, Andi answered, “We all have our favorites.

Our kids love animals, so we visit the SEA Aquarium and Singapore Zoo. I love discovering new places, so I do my research on what’s new. GP loves shopping and what we have in common is that we all love the food!”

Andi also shares what makes Singapore fuss-free and family-friendly: “Everything is made convenient for us parents. The changing rooms are the best I’ve seen, with hot water, cold filtered water, a nice breastfeeding area, and even dads have a changing table. There are also so many things to do for kids. Your itinerary will be packed with just activities for the them.”

On a recent trip to Singapore, the family tried out a “Passion Roulette”—a digital roulette where they input some of Andi and GP’s hobbies along with Olivia’s interest to suggest different attractions that matched all their passions.

The roulette revealed unique combinations like culinary

experiences and animal adventures which led them to one of a kind leisure activities like breakfast with the orangutans in Singapore Zoo, the Ocean Restaurant at the SEA Aquarium, and the café with a horseback-riding view, Riders Café.

With a shared passion for shopping, Andi ventured to local Singaporean gem Our Second Nature with her girls in search for cute finds, while GP embraced his inner “sneakerhead” at SBTG and met Mark Ong—the man behind the customized sneaker shop. At the end of the day, the entire family reconvened at Design Orchard, a one-stop lifestyle hub for all their favorite things.

According to GP, he also constantly pursues exciting activities: “I also like to do adventurous things and have unique experiences. Sailing on a yacht or driving a supercar would be a dream.” Making his passion possible on that same trip, the Passion Roulette led the family on a fun yacht ride to Singapore’s Lazarus Island, merging GP’s passion with Olivia’s love for the beach.

There is plenty more of the Manzano-Reyes family’s exciting escapade on the VisitSingapore Facebook page (bit. ly/2DLK26M).

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Thursday, December 5, 2019

Entertaining BusinessMirror

Bourbon can make many foods better A SWEET potatoes dish with pecans and bourbon. A splash of bourbon is a very easy way to up the flavor ante and elevate your home cooking. AP

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Today’s Horoscope

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Frankie Muniz, 34; Margaret Cho, 51; John Rzeznik, 54; Little Richard, 87.

HAPPY BIRTHDAY: Think twice about the things you’ve done in the past, what you are doing at the moment and where you see yourself headed in the future. Look at the transition you want to make and the dedication and hard work it will take. You’ll find a way to reach your goal. Be realistic and moderate, and keep your plans simple and doable. Your lucky numbers are 5, 13, 22, 26, 37, 44, 46.

By Elizabeth Karmel The Associated Press

F ever there was a season for bourbon, it’s fall.

The rich, round vanilla notes of a good bourbon complement our favorite autumn foods.

That goes for meats, vegetables and sweets.

It’s an equal opportunity spirit that makes everything taste better. A splash of bourbon is an easy way to up the flavor ante and elevate your home cooking.

For example, a little bourbon and brown sugar mixed with butter, salt and pepper transforms ordinary sweet potatoes and winter squash into a side dish that steals the spotlight.

To coax all the flavor out of these vegetables, make sure to roast instead of boil them. One of my signature dishes is Sweet Potato Bourbon Mash (bit.ly/34O283Y).

When I am feeling extra fancy, I top the mash with sweet and spicy praline pecans. It’s good all year long but tailor-made for the holiday season, and a sophisticated substitute for traditional marshmallowtopped sweet potatoes.

My go-to kitchen bourbon is Maker’s Mark because of the high vanilla and caramel notes, and the round full flavor. But I like to use different bourbons for different uses. If I am using bourbon to flambé a pork chop, for example, I use Booker’s Bourbon because it has a high-alcohol content. The current batch of “Country Ham” Booker’s is perfect for finishing a grilled pork chop with a quick table-side flambé. In fact, if you are a fan of country ham and prosciutto, I suggest you serve some thin slices with a thimble of this bourbon as an appetizer. It is a perfect pairing— take small bites of your favorite salty ham with a small sip of this uncut, unfiltered barrel-strength sweet and fiery bourbon.

Flambé sounds old-fashioned, and it is. But it is also a “wow” presentation, and leaves the pork with a whisper of whiskey flavor that adds dimension to the chop. I like to brine my thick-cut chops, grill them directly and finish them over indirect heat before dousing with Booker’s (bit.ly/33H81P7) and setting them on fire. Be sure to do this on a heat-resistant platter or sheet pan. After the flames have burned out, remove to a platter, let rest for 10 minutes, carve and serve.

My favorite new bourbon is Uncle Nearest. It is being distilled in honor of the first African American master distiller, Nathan “Nearest” Green. The

a

ARIES (March 21-April 19): Listen and learn.

Observation will help you detect what and who is best for you. Don’t waste time on negative people or projects that aren’t going to help you reach your goal. Keep your life simple and your focus on what’s doable. HHH

b

TAURUS (April 20-May 20): A positive change can be made. Revise what isn’t working for you anymore into something that excites you. Expand your mind, friendships and interests. A romantic suggestion will perk your interest and lead to physical improvement. HHHH

c

GEMINI (May 21-June 20): Be careful how you distribute your time. Helping others can be rewarding, but not if someone takes advantage of you. Pick those you associate with carefully.

Partnerships need to be well-balanced. HHHH

d

CANCER (June 21-July 22): Focus on what you can do, not what you cannot. Refuse to let an emotional incident throw you off your game. Push to finish what you start, and surround yourself with people who make you feel good about your accomplishments. HH

bourbon is bold and spicy with caramel and maple notes. Lately, I have been using it to make the whiskey butter (bit.ly/34O2FTw) that I put on top of a grilled or cast-iron seared steak. It’s also great on fish, chicken and pork. Since oil and water, or in this case butter and bourbon, don’t mix, I soak chopped shallots in a tablespoon of bourbon and then mix them into soft butter, and add a bit of coarse salt, white pepper and chopped curly parsley for a multiuse whiskey butter that finishes any dish.

If I don’t have time to make a homemade dessert, I frequently serve dressed-up ice cream and cookies.

I buy the best-quality vanilla ice cream that my grocery store carries, drizzle it with Knob Creek Smoked Maple Bourbon Whiskey, serve it with crisp store-bought cookies like Pepperidge Farm Bordeaux cookies and call it a night! The smoky maple bourbon isn’t overly sweet and doesn’t taste artificial like many syrupy liqueurs on the market. It’s also good drizzled on baked or grilled fruit, or in fall squash purees.

On days I do make dessert from scratch, my bourbon bottle is close at hand. I add bourbon to homemade applesauce, apple pie, sweet potato pie, pumpkin pie, pecan pie and anything chocolate. I use it to make a glaze for an apple cake or pound cake. I even have a blondie recipe that I call Tipsy Toffee Bars (bit.ly/34N6GrA) that benefits from the depth of flavor that bourbon creates. I like to think of bourbon as a maxed-out vanilla extract.

Even if you buy your dessert from a store, you can make it semi-homemade with a “flavor bomb” of Bourbon Whipped Cream. A dollop will literally make everything taste better.

This is especially helpful during the holidays when you might not have time to bake a pie or cake from scratch. To make Bourbon Whipped Cream, add 1 tablespoon superfine sugar and 2 tablespoons of your favorite bourbon to heavy cream as it is being whipped. Beat until stiff and serve immediately.

Refrigerate any unused cream. n

World leader Torani holds first-ever Master Flavor Class in PHL DO you know that how we experience flavors and taste is a science? That you cannot taste flavor unless you can smell? That color and aroma influence how we get attracted to and enjoy what we eat and drink? That genetics, age, ethnic background, the number and sensitivity of our taste buds determine how we taste?

Over 60 baristas and restaurateurs from well-known coffee houses, restaurants, and hotels in Luzon learned about the science of flavor and more at the first-ever Torani Master Flavor Class, held at Seda Hotel in Taguig recently. It was jointly organized by Torani, world leader in flavoring syrups, sauces and blended drink bases, and Equilibrium Intertrade Corp., the top Philippine distributor of coffee, tea and specialty beverage products.

The three-part workshop was conducted

by Anjali Ganpule, Torani’s innovative food scientist from Torani San Francisco and

www.businessmirror.com.ph

an active member of Northern California’s Institute of Food Technologists. Ganpule is a master at seducing the senses with both exciting and soothing flavors.

“Torani has over 100 flavors and those great flavors, when paired with great coffee and prepared by great baristas, will surely

delight customers in a special way. I think that will greatly help to set their coffee shop apart from competition,” Ganpule said.

Torani Syrups & Sauces was brought to the Philippines by Equilibrium Intertrade Corp. from San Francisco, California, to recreate the café experience of the North

Beach in San Francisco. It paved the way to the early beginnings and subsequent growth of the first and second waves of the Philippine specialty coffee trade. This Rolls Royce of coffee flavorings has served millions of exciting lattes in many cafés in the country since it first went into the market in 1998.

Torani offers various syrups and sauces from Regular Syrup, Sauces, Fruit Purees, Real Fruit and Puremade Syrup, all of which deliver amazing flavor using the purest ingredients.

Equilibrium Intertrade Corp., the country’s official distributor of Torani, has been in operation for more than 21 years in the Philippines. As the specialty coffee trade began to grow in the late 1900s, it expanded its products to include espresso machines, specialty teas and other specialty beverages.

Its clients include top hotels, restaurants and the popular coffee places in the country.

e

LEO (July 23-Aug. 22): Information that helps you make a decision regarding your direction will be offered. Educate yourself, and spend time with people who have traveled the path you plan to pursue. Refuse to get trapped in someone else’s dream. Do your own thing. HHHHH

f

VIRGO (Aug. 23-Sept. 22): Emotional spending is not the answer. Focus on personal achievement and spending time with someone you love. Positive change begins with you. Take a step in a direction that helps you put an end to what is no longer working for you. HHH

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LIBRA (Sept. 23-Oct. 22): An inquisitive mind will help you gather information and push you to change situations you don’t like. Assess your lifestyle and your day-to-day routine.

Happiness begins within, and it’s up to you to make adjustments to suit your needs. HHH

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SCORPIO (Oct. 23-Nov. 21): You are primed for success. Don’t waffle; embrace different and exciting changes. Live your dream instead of just thinking about the life you want.

Personal and professional gains are within reach if you stretch and grow. HHHHH

i

SAGITTARIUS (Nov. 22-Dec. 21): Keep your allies close and your enemies closer.

Knowing what everyone around you is up to will help you ward off meddling and someone misleading you. Use your intuition, as well as your intelligence when making decisions. HH

j

CAPRICORN (Dec. 22-Jan. 19): If you want something done, do it yourself. Change happens when you take action. Talk is cheap, and making promises is fruitless if you don’t follow through. HHHH

k

AQUARIUS (Jan. 20-Feb. 18): Finish whatever task you’ve been given. Leaving a job unfinished will hurt your reputation. A disagreement is likely if you get into a discussion about politics or religion. HHH

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PISCES (Feb. 19-March 20): Pay attention to detail, and you’ll avoid a dispute with someone critical. Focus on building your financial reserve, not spending or giving away your hard-earned cash. HHH BIRTHDAY BABY: You are insightful, resourceful and proactive.

You are intense and ambitious.

‘terminal termination’ BY PAUL COULTER The Universal Crossword/Edited by David Steinberg

ACROSS 1 (Sigh) 5 Some are targeted 8 Lineups 14 Rasta messiah Haile 16 One has photographic memory 17 Mid-hour (first 3 letters + last 1) 18 Painter Peter Paul 19 Zester’s target 20 “Semper fi” group 22 Tennis racket holds 24 Tarzan associate 25 “It’s c-c-cold!”

27 Words to a waiter (first letter + last 4) 33 Staggered 35 “I heard that!”

36 Cheerless 37 Bridal path destination?

38 Consumes 39 Funny-car fuel, briefly 40 Himalayan Bigfoot 41 Chaney of horror 42 ___-Michael Key of Key & Peele 43 Knit headwear (first 3 letters + last 1)

6 Word before “questions” or “takers” 4 47 Musician Brian 48 In the least 50 Percussion instrument in a kit 55 ___ land (spaced-out state) 57 Cocktail party bite 58 Wide receiver, or a hint to 17-, 27and 43-Across 61 Needing leveling 62 Pie and ice cream 63 Lawn levelers 64 Annex 65 Da’s opposite DOWN 1 Blond shade 2 Ballet move 3 Fairly quick tempo 4 Less risky 5 White-sheet connector 6 Neglect 7 Goes down at dusk 8 Determined and tough 9 Botanical victory symbol 10 Prefix with “dexterity”

1 Many a freshman, age-wise 1 12 Coastal raptor 13 Cheeky remarks 15 Old-fashioned cutting-room gizmo 21 Earns 23 Reward for a successful defense: Abbr.

25 Donkey sounds 26 Found a new tenant for 28 Michael who won the French Open at 17 29 Falco of Nurse Jackie 30 Place where a creative type hangs?

31 Clingy wrap name 32 Black wood 34 Secular 38 Accept, as a coupon 39 Tibetans’ neighbors 41 Trees with heart-shaped leaves 42 “Krazy ___” 44 Goalie 45 Slept in a forest, say 49 Grow dark 50 Pond gunk

1 Billionth: Prefix 5 52 Fresh way to start 53 Nightclub party 54 Steak stamper: Abbr.

56 Penny, perhaps 59 Drug dropped in the 1960s 60 AZ doesn’t observe it

Solution to yesterday’s puzzle:

Parentlife BusinessMirror

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Thursday, December 5, 2019

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Wanted: An ‘active’ family gi�t list—Part II COUNTERCLOCKWISE, from left: Travel games “Left Center Right” and Mini Molecube, and board games “Star Wars Clue” and “Clue Junior” from Hobbes & Landes; Melissa & Doug Dust! Sweep!

Mop! and Spray, Squirt & Squeegee from Ogalala; and Aero Trax Plane and Dizzy Droid Techno Gears Action Blocks

MOMMY NO LIMITS

MAYE YAO CO SAY

mommynolimits@gmail.com

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Unicef offers Basket of Hope for Christmas IN the spirit of the Christmas season, Unicef Philippines recently launched Basket of Hope—an online campaign to give meaningful gifts to help children in need.

Said campaign enables people to give something different this Christmas while supporting a cause.

For every donation of P500 to the Unicef Basket of Hope, an individual can help provide children with treatments for malnutrition, or education supplies, or access to clean water and hygiene essentials. The donation will go directly to children most urgently in need at the time of giving.

For education, a basket can provide backpacks and school supplies. For health, children will be given life-saving treatment and ready-to-eat therapeutic food packs. For water, sanitation and hygiene, children will get access to clean water and hygiene supplies during emergencies.

The Unicef Basket of Hope campaign is led by Unicef’s three Goodwill Ambassadors Gary Valenciano, Daphne Oseña-Paez and Anne Curtis, with the support of other celebrities and influencers.

To know more about the Basket of Hope and to make a donation, visit bit.ly/2O4XZD8.

the more complex and magnetic Magna-Tiles.” n STUFFED ANIMALS. “Research has demonstrated that children ascribe a deep personal life and attachment to simple character objects, like stuffed animals. Children play in incredibly complex ways with simple stuffed animals, assigning them roles and feelings, taking care of them and helping them.”

3. OUTDOOR—GIFTS THAT ENCOURAGE BEING ON OUTDOORS. She gives examples like something they can push or ride, or play with in the yard. It can be a playhouse, a trampoline or a swing.

For me, sports is definitely a “must now.” Gifts like gears for swimming, basketball or soccer can encourage the whole family to have family sports time.

4. INDEPENDENT WORK—GIFTS THAT FOSTER WORK. Dr. Screen-Free Mom is a big fan of allowing children to do a little work around the house. She points out that “genuine work [in the form of chores or other challenging tasks] is qualitatively

different from play.” She defines independent work as any task that requires a child to sustain their attention for an extended period of time and results in pride when an outcome is accomplished. Gifts that encourage this includes: n A CHORE CHART OR CLEANING SET. “While it’s not how we traditionally think of gifts, giving a child the responsibility of chores has tremendous psychological benefits. Make it fun by providing them with their very own cleaning set or a new chore chart.” n WORK THE CHILD NATURALLY LOVES. She suggests observing the child like a scientist. Whatever you see they are working on, whether biking, skateboarding, writing the alphabet or drawing, she encourages us to consider holiday gifts that acknowledge and encourage their work. As a parent, I appreciate a nice message on a card to encourage my kids to try their best in their chosen interest. n A PET. Her suggestion is to start small for young

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BABY Alive Shimmer ‘n Splash Mermaid doll has its own dazzling tail, perfect for a fun pool time with friends.

THIS Adventure Collection Multipack has your favorite Frozen characters in collectible sizes.

IT’S time to let it go with this Elsa storytelling doll and accessories.

Amazing finds for the holidays

UNICEF Ambassadors

CHRISTMAS is at glorious play at Toy Kingdom, which brings the most amazing holiday toys and finds for kids and kids-at-heart.

Girls will surely love the playsets and doll houses of their favorite heroines—Barbie, and Elsa and Anna of Frozen. They will also enjoy playing big sister to Baby Alive dolls in Shimmer ‘n Splash Mermaid designs and Baby Lil Sounds version.

Fancy toy surprises also await little girls with Hatchimals’s CollEGGtibles Christmas Pack and Surprise Sparkle Series. Boys, on the other hand, can

children, like a goldfish. For those with pets, we see our children learn an incredible amount by caring for an animal, especially when you give them distinct and regular responsibilities. n PUZZLES. As traditional as puzzles are, I believe it is the start of teaching “grit.” It is great to see the skill of following through when my kids finish a puzzle.

But my advice is to start them as young as two years old with easy two to eight pieces. Let them want more.

5. LITERACY—GIFTS THAT ENCOURAGE READING AND WRITING. Gifts like books, a reading nook, or even a bookshelf, can encourage kids to allot and value their reading time. I remember when my daughter saved up all her reward and holiday money for a Muji bean bag three years ago.

I initially thought it was frivolous, but she said she wanted a reading corner. Happily enough, she still uses it today.

Happy active gift shopping, everyone. n

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BRING the force with you with these all-new Stormtrooper and Darth Vader masks.

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AST week, I shared my learnings that giftgiving can help all of us take control of too much screen time. I suggested “active gifts” that may jolt kids and families into active play mode. I also shared excerpts of an interesting online article I read by Dr. Screen-Free Mom on choosing “screen-free” type of gifts.

This week, let me expound on more examples from her article on SPOIL (Social, Play, Outdoor, Independent Work, Literacy), which are categories to pick from when doing gift-shopping: 1. SOCIAL—GIFTS THAT ENCOURAGE SOCIAL INTERACTION. “Children benefit a great deal from uninterrupted time spent connecting with parents, siblings and peers. You can encourage this through a couple of different kinds of gifts.” Dr. Screen-Free Mom suggests gifts of “memories,” like trips or museum tickets; as well as board games that encourage family game nights. I personally advocate “family gifts” now. Instead of giving individual gifts, why not put together the individual budgets to give a more meaningful family gift? I found a map in Hobbes & Landes last weekend where you can scratch the countries you have visited. She also suggests gifts of “philanthropy.” These are gifts that teach children about caring for the community.

2. PLAY—GIFTS THAT FOSTER FREE PLAY. “Encourage free play in your children with toys that are 90 percent your kid’s imagination and 10 percent toy.” She suggests toys like: n DRESS UP. “Dress up toys are a wonderful, long-lasting addition to any child’s collection. These encourage complex sociodramatic play, which is associated with social problem-solving, the development of sustained attention and planning abilities.” She prefers gender neutral dress up clothes, or suggests gifting a trunk or dress up station for kids. n PLAY KITCHEN OR DOCTOR CENTER. “Last year, we built our kids their very own market and café. They love it. It takes just a little bit of skill, some play food and a play kitchen. This year, we used the same idea to organize their doctor stuff into a veterinarian/doctor center. We added a doctor kit, shelves for the stuffed patients, an eye chart and some doctor forms.” n BLOCKS. “They may seem simple, but that’s the genius in blocks. Plus, there are a million versions to choose from now—from traditional wooden blocks to

enjoy an action-packed Christmas with Hot Wheels and Lego playsets, Nerf guns and all-new Star Wars masks. There are also Marvel-inspired finds, such as Spider-Man, Captain America and Iron Man plush toys that kids would love to hug.

Get that holiday shopping going at Toy Kingdom (www.toykingdom.ph) and make sure to complete that Christmas wish list this year. These amazing holiday finds are available at Toy Kingdom Express outlets in The SM Stores and Toy Kingdom Stores in most SM Supermalls.

NERF’S Fortnite SP-L is inspired by the spy blaster used in “Fortnite” video game and comes with a detachable barrel and six Nerf Elite darts.

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Show BusinessMirror

Thursday, December 5, 2019

Drake is Spotify’s most-streamed artist of the decade NEW YORK—Drake is the king of streaming: the rapper has been named Spotify’s most-streamed artist of the decade.

Spotify announced on Tuesday that Drake has been streamed 28 billion times in the last 10 years. Ed Sheeran came in second, while Post Malone, Ariana Grande and Eminem round out the top 5. Sheeran’s “Shape of You” was the most-streamed song of the decade. For 2019, Post Malone is the top-streamed artist globally. Billie Eilish, Grande, Sheeran and Bad Bunny round out the top 5. Eilish’s debut album— When We All Fall Asleep, Where Do We Go?—is the year’s most-streamed album, while Shawn Mendes and Camila Cabello’s “Senorita” tops the list of the moststreamed songs.

The Joe Budden Podcast with Rory & Mal is the year’s most-streamed podcast on Spotify. AP

ARIEL RIVERA’S ‘SANA NGAYONG PASKO’ FEATURED IN DRAGONPAY’S HEARTWARMING CHRISTMAS SHORT FILM CHRISTMAS is all about reconnecting with those closest to your heart. In this season of cheer, Dragonpay, one of the leading alternative payment solutions providers in the Philippines, has teamed up with music artist Ariel Rivera to mark the Christmas season with a touching short film, titled Sa Piling Mo (In Your Arms).

Sa Piling Mo tells the story of a maid longing to reunite with her son this Christmas. The long distance hinders, until one unexpected incident pulls them back together. The award-winning singer brings back his signature Christmas song “Sana Ngayong Pasko” with a new, touching rendition exclusively for the short film, which everyone can watch on bit. ly/2rR42SX. In addition, you can watch the music video at bit.ly/2PecKCT. “We at Dragonpay want to underscore that Christmas celebrations are more than just the material things or the gifts under the Christmas tree, but are of the simplest things money can’t buy, such as the small reunions with your family and the hearty, sentimental conversations that come along with these reunions,” said Robertson Chiang, founder and chief technology officer for Dragonpay.

“We are thrilled to have Ariel Rivera and his beautiful song Sana Ngayong Pasko as part of our Christmas celebration. One of Dragonpay’s testaments is to make the seemingly impossible things possible and convenient for all. Thus, our mission for this Christmas is to make anything for you a reality,” he added.

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Critics are not born; critics are not burned REELING

TITO GENOVA VALIENTE

titovaliente@yahoo.com

I

HAVE always wanted to be a critic. I felt this when, during a long break from school as I waited for my student visa to be approved for my exchange program to Japan in the late 1970s, I decided to write about a film. I remember grabbing an old notebook and staring at the pages for a long time.

I was 19 years of age, unaware of the perfect essay. A diligent student lucky enough to have teachers like the late fictionist Socorro Federis-Tate and Rudy F. Alano, a poet and, many do not know this, a great grammarian, I knew the lessons.

Do not split in�initives. T0 solidly review a film I should pay attention to details. Do not preach. I was conscious of dangling modifiers, but Tate did tell us, if you do not let your modifiers dangle every now and then, you can never be an interesting writer. Was she talking of something else?

Anyway, it was Holy Week, when the sacred calling to criticize came to me. The season was appropriate.

The old city was at a standstill and cinemas were showing old films with stories culled from the Bible.

It was not yet fashionable then to criticize the Bible. Even as the French Structuralists had already made inroads in reading the Bible, it would take some two decades more before I would get to read Edmund Leach’s “Genesis as a Myth.” The attitude then was to accept the film version of any Biblical tale, with the audience short of genuflecting before entering the temple that was the standalone cinema.

The film that attracted me was Samson and Delilah.

I thought it was a funny film. That was a problem. The Bible was not supposed to be funny. Starring Victor Mature as Samson and Hedy Lamarr as Delilah, the film was more of an action film. I could not believe the scenes. The voice of God was also funny. I would find out much, much later that it was Cecil B. deMille’s voice. I wanted something more otherworldly, not a voice that sounded as if it was selling home appliances.

I still recall one scene where Samson/Victor Mature was sort of debating with his mother and the latter, with a sigh, said: “Oh, you are blind, Samson.”

For the teacher using films in classroom engagement (rare then), that scene must been a foreboding. For me though, it was just hysterical.

I did finish that review. As I was not writing for any magazine or newspaper then, that essay stayed within that book. Lost forever.

I recall that enterprise at present when I am regularly introduced as a critic. I have realized I do not enjoy the title. I also have realized the industry—be they your friends, acquaintances or enemies—does not like critics.

Film criticism, of course, has changed through the years. When I was reading criticisms years ago, the word “critic” implied someone who lambasted bad works. All works were bad anyway for this kind

Films have changed. Even the practice of viewing films has been altered. The stand-alone cinemas are gone— those flamboyant architectures marked by gargoyles and caryatids imagined from older civilizations. In their place are cineplexes entombed in malls and shopping palaces, their function secondary only to getting people to buy.... of critic. They nitpicked and focused on details that could bring down a film or any work of art that aspired to be great.

Woe in fact to any work of art that aspired to be great—and those that announced they were great— because critics shall bring them down.

This negative critical landscape went on and on.

By the arrival of the new millennium, in an attempt to wash off the sins of their progenitors, film critics started to assume the role of film educators. I embraced the term. There was a constructive tone to it. It was the right title for a person to face filmmakers who see their films as their babies. You know, that reasoning couched in the warning: “You don’t call my baby ugly!”

I do not agree with the maternal metaphor, but I believe in making my reviews accessible. A review not read is no review at all.

Why this throwback? Why the belaboring of one’s evolution?

Well, films have changed. Even the practice of viewing films has been altered. The stand-alone cinemas are gone—those flamboyant architectures marked by gargoyles and caryatids imagined from older civilizations. In their place are cineplexes entombed in malls and shopping palaces, their function secondary only to getting people to buy other products, whether these are related to any of the films being shown or not.

Technology also has caused radical shifts in our viewing habits: copies of films are made accessible through DVDs and videos became on-demand.

In the country, the dominance of independent cinemas and the rise of regional films from the peripheries have alerted critics about two languages: film language and the languages of the film. The primacy of the Tagalog/Pilipino/Filipino language as the default language means that nuances in films are further nuanced. Manila critics used to the “national” language must deal with other languages, or totally ignore them. Many did that, assume that the dialogues are not as crucial as the narrative and the technological requisites of cinematography, music, editing and the like. The most dangerous assumption, of course, is to see regional cinemas as “anyway, reflecting the culture of the nation.”

This may sound patronizing, but my preparation for regional cinemas came from more than three decades of teaching Japanese culture through Japanese cinema. As early as the 1980s, I was conscious of Japanese cinema as having its own rubrics of what makes good acting, narrating and use of camera. This made my leap to Philippine cultures easier.

I became acutely conscious also of the fact that relations of production in dominant sectors were also being reproduced in the relations of production in regional film productions. In other words, the supremacy (or self-declared and imposed) or dominance of Tagalog films were being modeled after by regions where there existed a dominant language over other languages of the same region.

There are good effects: Bisaya is more clarified.

Bikol, which is perceived as homogeneous, has asserted its heterogeneity. The notion of a pure language has become delusional.

I write this before December 3, when I will be speaking to filmmakers, teachers and students attending the Festival de Cine Paz Mindanao in Zamboanga. I will be speaking as a critic but I will tell them what I think is obvious: that every critic operates from a theoretical perspective. The evil critic is one who claims he does not employ a theory and has a value-free assessment of cinema. The bad critic does not know that he uses a theory.

I will share with them the wisdom and craft of Spivak and her notion of “critical intimacy,” that engaging regional filmmakers means that we need to look at how they respond to us and how we respond to them. The evaluation of their film shall involve their view of the film and our reading of the film. I will also be direct with them about that contradictions where the intellectual, i.e., the critic, is not conscious of his historical role in the center, even as he praises or valorize the works of those in the margin. n

WEINSTEIN EXPECTED BACK IN COURT THIS WEEK FOR BAIL HEARING

NEW YORK—Imminent changes to New York’s criminal justice system are forcing Harvey Weinstein back into court a month before his sexual-assault trial is set to start.

Weinstein is due to appear on Friday at a bail hearing necessitated by changes that go into effect on January 1.

Weinstein has pleaded not guilty to raping a woman in a Manhattan hotel room in 2013 and performing a forcible sex act on a different woman in 2006. His trial is scheduled to start on January 6.

He is free on $1-million bail and maintains that any sexual activity was consensual.

The new changes include eliminating bail for nonviolent felonies and accelerating the timetable for prosecutors to give evidence to the defense.

The charges against Weinstein would continue to qualify for pretrial detention or bail under the reforms. AP

‘Irishman’ named Best Picture by National Board of Review

By JaKE COylE The Associated Press NEW YORK—Martin Scorsese’s sprawling crime epic The Irishman has been named Best Picture by the National Board of Review.

The awards, announced on Tuesday by the National Board of Review, handed Netflix its secondmajor honor in Hollywood’s quickening awards season. On Monday evening, Noah Baumbach’s Marriage Story won Best Feature at the IFP Gotham Awards, which honors independent film. Both movies are widely expected to eventually reap numerous nominations at the Oscars, with either potentially landing Netflix its first Best Picture win.

The Irishman also took Best Adapted Screenplay, for Steven Zaillian’s script, and an icon award for Scorsese, Robert de Niro and Al Pacino.

The board, as it typically does, otherwise spread its awards around to help fill its annual gala with stars.

Quentin Tarantino took Best Director for Once Upon a Time in Hollywood.

Best Actress went to Renee Zellweger for her performance as Judy Garland in Judy. Adam Sandler won Best Actor for Josh and Benny Safdie’s upcoming New York thriller Uncut Gems.

Brad Pitt, widely seen as the Oscar front-runner

THIS image released by Netflix shows Joe Pesci (left) and Robert de Niro in a scene from The Irishman. Martin Scorsese’s sprawling crime epic The Irishman has been named Best Picture by the National Board of Review. The awards, announced on Tuesday by the National Board of Review, handed Netflix its second-major honor in Hollywood’s quickening awards season. AP

for his coleading performance in Once Upon a Time in Hollywood, won Best Supporting Actor. The National Board of Review also threw its support behind Clint Eastwood’s upcoming docudrama on the 1996 Centennial Olympic Park bombing, Richard Jewell, giving it Best Supporting Actress for Kathy Bates and breakthrough performance for Paul Walter Hauser.

The picks by the National Board of Review, a longrunning organization comprised of academics and film professionals, have in recent years seldom lined up with eventual Academy Awards winners. But its Best Feature choice last year, Green Book, went on to triumph at the Oscars.

Other awards included: Best Ensemble to Rian Johnson’s whodunit Knives Out; Best Screenplay to Uncut Gems; Best Documentary to Maiden, about a historic all-woman sailing crew; Best Foreign Language Film to Bong Joon-ho’s Parasite; Best Animated Film to How to Train Your Dragon: The Hidden World; Best Directorial Debut to Melina Matsoukas (Queen & Slim); and Roger Deakins (1917) for Outstanding Achievement in Cinematography.

The board additionally bestowed its freedom of expression award on both the Death Row drama Just Mercy and the Syrian war documentary For Sama.

The awards will be handed out in a ceremony in New York on January 8, hosted by Willie Geist.

Envoys&Expats EXPAT EXECUTIVE

www.businessmirror.com.ph | Thursday, December 5, 2019 E1

From successfully selling consumer goods, Danish exec now markets coworking spaces

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By Tony M. Maghirang | Contributor

WG Philippines Country Manager Charles Wittig has been “around the block,” as he is wont to say, in his professional engagements, having been posted in several corporate executive capacities since 1992.

The Philippines must have left a lasting impression on the man who grew up on a farm in his homeland. When asked about his most memorable experience in the country, he told the BusinessMirror: “Let me put it this way: If I were asked to start something from scratch and build up a business with a whole new team, I would not go back to Denmark.

Not even America. I would choose the Philippines any day.”

Wittig remembered that as a teenager living in a rural area far from the capital city of Copenhagen, he decided he didn’t want to till the land. He dreamt instead of seeing the world. Early on, his sights were set on coming to Southeast Asia. He knew of a large firm named East Asiatic Co., reputed to be the biggest company in Scandinavia, with trade interests in this side of the world.

In fact, while still in his teens, he traveled to Copenhagen, to hand-deliver an application letter for employment in the said firm.

The company finally hired Wittig, and put the then-20-year-old management prospect on an extensive training course at the firm’s head office in the Danish capital.

After completing the rigorous management training, the marketing upstart was sent to New York instead of Southeast Asia, as he was originally promised.

He managed to turn around East Asiatic Co.’s business in North America. Two years later, he was transferred to Tokyo to be the marketing head of the company’s consumer and health-care products distribution channel in Japan.

In 1992, East Asiatic Co. was given the sole distributorship of Philip Morris in the Philippines.

Wittig arrived in Manila, in September 1992. Thus began a series of achievements that would qualify as some of the best industry practices.

Wittig then got down to the essentials of distribution, reaching out to and understanding the basic units that move products directly to consumers. He elaborated: “In my first year, I personally visited 5,000 sari-sari stores in order to map out the whole retail market chain. At that time, more than 90 percent of basic consumer products, like cigarettes, could pretty much [be found] in the said stores; the remaining 10 percent would be through the more developed distribution channels and wholesalers, which often also ends up in community outlets.”

“We also engaged an agency that fielded several hundred people to do interviews in sari-sari stores.

The data-gathering exercise eventually generated inputs to decisions as to which outlets to service directly and indirectly. [We determined] the distribution reach and

the frequency of deliveries.”

He added that his firsthand, actual exposure to the lowest socioeconomic layer of society got into his skin and right down to his DNA. The insights he gained from the visits to 5,000 outlets have provided lots of perspectives and lessons that a Harvardeducated executive bound to his corner office will never learn in his or her corporate journey.

Wittig said his grassroots-oriented strategy has been replicated in other countries, as well.

‘Cold War’ declared

AFTER a stint in Singapore where he revitalized the market share of a sunblock distributor, Wittig returned to the Philippines in 1998 as director for marketing of CocaCola Philippines At that time, the global bottling company employed some 13,000 people and was the sixth-largest market in the world.

For Wittig, a basic on-thejob learning was that 85 percent of the beverage was also sold through community stores. From research studies, there have been complaints that the cola was not cold enough when purchased. In addition, the soft drink was being bought for immediate consumption in a social setting of at least two people.

Relying on research data, Wittig declared what he called a “Cold War.” He argued, “Our research suggested that if a Coke is cold enough, the sales volume could increase by as much as 40 percent immediately. [That volume] justified investing in new coolers!”

The Asian financial crisis was in full swing then, as companies would have rather divested than finance for new assets. Wittig managed to direct a purchase order for thousands of new coolers to a production plant in Laguna. In no time, 45,000 new coolers began chilling cola drinks in 60,000 Coke retail outlets around the country.

Wittig created a new marketing pitch that “a cold Coke is a sold Coke.” As a result of launching the Cold War, more bottles were sold in the Philippines than in China— something that had never happened before, according to him.

Kindred coworking community

AFTER repatriating for nine years in his native Denmark, due to family reasons, Wittig returned anew to the Philippines—this time, as country manager of IWG Philippines handling Spaces, which traces its roots in Regus, the brand that started the shared coworking setup 30 years ago.

Regus came to the Philippines in 1998 at the height of the Asian financial crisis—the same year that Wittig was with Coca-Cola Philippines.

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Envoys& BusinessMirror

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COMPANIES IN FOCUS

Japanese firm upbeat on PHL infra road map

By Rizal Raoul S. Reyes

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@brownindio

the latest technologies to make communities better.

“Driven by our passion for quality innovation, we aim to boost our position as a primary provider of building equipment by responding to what people need and how we can help them now and in the future. This inspires our commitment to deliver world-class technologies and service excellence,” he continued.

N recent decades, Japanese brands have established a solid presence in the country and have endeared themselves to the local market, developing a strong affinity with Filipinos for their quality and dependability.

International Elevator and Equipment (IEE) Inc., a company under Japanese conglomerate Mitsubishi Electric, is one such that believes in the Philippine economy and the talent of the Filipino.

Executive Vice President Itsuo Arakawa pointed out in a recent press briefing that their Filipino workers have shown a high degree of productivity in their work.

“Filipinos can also easily follow instructions because of their fluency in English,” Arakawa confirmed.

Moreover, the executive said IEE is optimistic in the current business environment, as the country embarks on the development of smart infrastructures that are crucial in driving prog-

ress and sustaining economic growth, as the Philippines enters its “Golden Age of Infrastructure.”

IEE recently participated in the Philconstruct Expo to showcase its latest technologies and equipment that are tailor-fit for the evolving requirements of the building and construction landscape in the country.

Now on its 30th year, the largest expo of its kind is highlighting the Philippine Construction Industry Roadmap 2020-2030, the implementation of which is being prepared by the Department of Trade and Industry, as well as the Construction Industry Authority of the Philippines.

Themed “Tatag at Tapat 2030,” the road map aims to shape the future

Passion for innovation

IEE executives (from left): Assistant Vice Presidents Fortunato Davantes Jr., PME, and Alfred M. Pantaleon; Executive Vice President Itsuo Arakawa; President Ramoncito A. Ocampo; with Nakatsugawa Works Manager for Overseas Marketing Junichi Takahashi and IEE Vice President/Treasurer Melecio B. Vicencio

capacity, values and institutional integrity of the local construction industry to sustainably steer the way toward achieving the “Build, Build, Build” agenda.

Enduring legacy

FOR this year and in the coming

decade, IEE builds on its 50 years of enduring legacy through its exhibit theme, “Passion for Quality Innovation.” IEE endeavors to support the road map’s vision in achieving sustainability with its range of energy-efficient, safe and reliable products designed to improve and

From successfully selling consumer goods, Danish exec now markets coworking spaces

inspire better quality of life.

For his part, IEE President Ramoncito A. Ocampo said the company is optimistic of its growth: “We see positive development in the next two to three years.”

To achieve such, Ocampo said IEE will offer the best services and

TO celebrate its 50th anniversary, IEE unveiled its new office and showroom earlier this year, which features a virtual-reality experience of Mitsubishi Electric’s elevators that underscore what world-class capability can achieve.

Through its passion for innovation, IEE continuously redefines the architecture and construction landscape in the country with its advanced elevator, escalator, as well as heating, ventilation, air conditioning and refrigeration or HVAC/R innovations.

Since 1969, IEE has handled the design, sales, installation and maintenance of Mitsubishi Electric elevators and escalators in the Philippines.

It ventured into air conditioning in 1978 and has, since then, expanded into ventilation and cooling.

German firm eyes old churches for cleanup

CLEANING expert Thorsten Moewes demonstrates a part of the restorative cleanup of the San Agustin Church.

G CHARLES WITTIG Continued from E1

He recalled, “Regus had some core values I could relate to. While everybody else was ‘avoiding’ the Philippines due to the Asian crisis, Regus did the opposite. They saw an opportunity, took a risk and opened the first flexible workspace center at the Enterprise Center. At that time, the building had only three tenants in its available office space of 85,000 square meters.”

Luckily, Regus has built a reputation as an incubator of new businesses. It offered flexible workspaces without major capital investments, long-term liabilities and commitments. This meant multinationals and local enterprises can work out the details and test the waters for

their business concepts in an office environment, minus the heavy unnecessary burden of an office lease, recurring utility expenses and similar preoperating costs.

Wittig pointed out, “I’d like to think Regus sort of facilitated and enabled a lot of businesses to get traction early on. As a result, they also brought in innovation and potential growth prospects earlier than there would otherwise be.”

Today, Regus has moved on to be the equivalent of the executive suite for the busy, globe-trotting CEO. As a parallel flexible workspace offering, the IWG mothership has developed Spaces, which focuses more on creating a community of kindred coworking spacers.

“You take a shared office space at

Spaces, and you’re at ‘ground zero’ for sharing knowledge. [You can meet new friends and interact] with others who share your interests,” explained Wittig. “You also immediately belong to a community with jam-packed events schedule.”

Wittig believes that Spaces fits the lifestyle of young people, especially millennials, who don’t want to be measured by time sheets.

They’d rather be gauged by their productivity which improves much better when people are allowed to do their best whenever, wherever they please.

A flexible workspace is clearly a vote of confidence to the innovative capacity of millennials who have proven themselves to be more successful than their age

and experience justify.

Likewise, IWG’s research shows millennials are equally aware that they are short of experience and would appreciate to learn from an expert mentor who has been around the block.

Wittig averred, “We have a mixed community, and Spaces acts as an icebreaker. We bring people together and facilitate, so they start talking. It’s our way of acknowledging that Filipinos are very good at interacting and won’t hold anything back.”

IWG Philippines Country Manager Charles Wittig: If I were asked to start something from scratch and build up a whole new business with a whole new team, I would choose the Philippines any day.

ERMANY-based company Kärcher is targeting more centuries-old churches in the Philippines as part of its initiative to clean prominent historical structures across the globe.

The German cleaning-equipment manufacturer had just conducted a restorative cleanup of the façade of the Baroque-style San Agustin Church and its adjacent convent.

It was the third time Kärcher conducted such an initiative in the Philippines. The first ones involved cleaning the Rizal Monument and the People Power Monument.

In the three aforementioned sites, Kärcher used its hot-water, high-pressure cleaner that utilized steam to rid stones of dirt gently.

“In other ways, people use detergents and very strong chemicals.

From our part, we try to avoid this.

We use the power of steam, so we can avoid chemicals. [It’s] just pure tap water,” Kärcher’s cleaning expert Thorsten Moewes said.

Most monuments they have visited, according to Moewes, showed signs of biological growth: “If it’s a layer full of [such], the substance behind is always much more damaged afterward. That’s why it’s good to remove it from time to time. It’s better to clean every 10 years than to wait [for] 100, because then you need

more powerful cleaning,” he said.

Kärcher’s cleaning expert explained that the reason for the need to remove biological growth is technical in nature, because algae, especially lichen, can produce acid that can destroy the stone underneath.

“Nothing official yet, but Barasoain Church and Malate Church [are being planned for cleanup.

Somewhere in Cebu, there are sites also being] considered to be part of our ‘Kärcher Cleans the World’ [campaign. We haven’t committed anything yet, though,] because this goes through a lot of processes,” said Kärcher Philippines General Manager Mark Palisoc.

For the company’s part, Palisoc said the activity is a continuing program. “As a general manager, I would love to get more approvals from our headquarters to [have] more opportunities to contribute to the country.”

Through its cultural sponsorship program, Kärcher has cleaned more than 140 monuments worldwide since 1980. Among them are the colonnades of Saint Peter’s Square in Rome, the Christ the Redeemer statue in Rio de Janeiro, Mount Rushmore National Memorial in the United States, and the Kaiser Wilhelm Gedächtniskirche in Berlin. Joyce Ann L. Rocamora and Ferdinand Patinio/PNA

&Expats

envoys.expats.bm@gmail.com |Thursday, December 5, 2019 E3

EMBASSIES, EVENTS, ETC.

Japan signs new contracts under GGP scheme

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MBASSADOR Koji Haneda recently signed five contracts on November 22 under the Grant Assistance for Grassroots Human Security Projects (GGP), one of the Japanese government’s assistance schemes for the Philippines.

According to the embassy, the total grant amount of $590,781, or approximately P30 million, will be used for the construction of a school dormitory, a health station, classrooms, as well as the procurement of medical equipment and agricultural machinery.

The Education Department’s Undersecretary for Administration Alain del B. Pascua and the Health Department’s Bureau of International Health Cooperation Medical Officer V Aleli Annie Grace Sudiacal attended the ceremony held at the Embassy of Japan.

As the top official development assistance (ODA) donor for the Philippines, the government of Japan launched the GGP in the Philippines in 1989 for the purpose of reducing poverty and helping various communities engaged in grassroots activities.

At present, 548 grassroots projects, including the five mentioned above, have been funded by the GGP

with a total amount of $33,742,160.

Japan believes that this project will not only strengthen the friendship between its people and the Filipinos, but also contribute to further fostering a strategic partnership between their countries toward the future.

Since 2006, Japan has been intensively implementing the GGP and other ODA projects for conflictaffected areas in Mindanao, collectively called the Japan-Bangsamoro Initiative for Reconstruction and Development (J-BIRD), which amounts to more than $200 million.

Furthermore, during former president Benigno Aquino III’s state visit to Japan in June 2015, Prime Minister Shinzo Abe expressed his support to the efforts of the Philippine government to secure enduring peace in Mindanao, and stated that the Japanese government will promote the J-BIRD II, in view of the establishment of a new autonomous political entity.

HANEDA (fourth from right) with representatives of the institutions and local government units which received the grants

New umbrella org helps nurses’ hiring for Germany A

SECOND roundtable on recruitment of Philippine nurses to Germany was organized in Manila by the German-Philippine Chamber of Commerce and Industry (GPCCI) on behalf of the German Federal Ministry of Health (BMG) and the German Agency for International Healthcare Professionals (DeFa).

Following the official announcement in August 2019 during the visit of BMG’s parliamentary state secretary to the Philippines, DeFa was created as a service provider to fast-track the administrative recruitment process of Philippine nurses to Germany.

DeFa’s Executive Director Thorsten Kiefer introduced the newly launched organization to Philippine-German industry representatives. He presented the various ways in which the organization can support within the visa and recognition process with German institutions.

Kiefer explained: “When facilitating the process, it is of our interest to cooperate closely with the industry. For our mutual goal of successfully and sustainably deploying Philippine nurses to Germany, we are of course very keen to work with partners that adhere to ethical and social standards.”

Rediscovering human rights with SDG docu-fest

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N commemoration of the International Human Rights Day on December 10, the embassies of Austria, Denmark, Germany, the Netherlands and Sweden, with the support of the United Nations Development Programme and the Film Development Council of the Philippines, will present six award-winning documentary films that focus on human rights and their crucial roles as the foundation of the United Nations’s Sustainable Development Goals (SDGs).

The first of its kind, aptly titled Today is Our Future, the documentary festival intends to become a mainstay in the rich tapestry of international film festivals in the Philippines, adopting the SDGs as a central theme to inspire audiences to discuss the 2030 Agenda for Sustainable Development and to introduce perspectives in the films on contemporary societal challenges to its achievement.

It also offers to the audiences a unique cinematic experience that allows them to fully enjoy documentaries—a genre accessible to the public often only in classrooms and educational venues.

Through their carefully selected entries, the organizing countries highlight the particular importance of specific SDGs, with the University of Santo Tomas (UST)

hosting post-film forums. Austria, with Werner Boote’s The Green Lie, takes on SDG 12: Responsible Consumption and Production. Denmark, with Andreas Dalsgaard and Obaidah Zytoon’s The War Show, focuses on SDG 16: Peace, Justice and Strong Institutions. Germany, with Alexander Hick’s Thinking Like A Mountain, supports SDG 6: Clean Water and SDG 13: Sanitation and Climate Action.

The Netherlands, with Arne Gielen and Gertjan Hulster’s Why We Cycle, champions SDG 11: Sustainable Cities and Communities. Sweden, with Viktor Nordenskiöld’s The Feminister, calls for SDG 5: Gender Equality. The Philippines, with Baby Ruth Villarama’s 2016 Metro Manila Film Festival Best Picture winner Sunday Beauty Queen, brings forward SDG 8: Decent Work and Economic Growth.

The weeklong Today is Our Future runs until December 8. Consisting of two parts—the first, which screens until today—engages the academic community with in-campus screenings and post-film forums on the SDGs at the UST. The second half, from December 6 to 8, welcomes the public at Cinema 4 of the Gateway Cineplex in Gateway Mall, Araneta City inside Cubao, Quezon City.

Germany is facing a severe lack of nursing and care staff due to demographic population change. To cover the growing shortage of health-care professionals, the German government has decided on a coherent approach, including supportive measurements, for the recruitment of skilled nurses from countries outside the European Union, such as the Philippines, via the private sector.

The immigration of Philippine nurses to Germany has already shown positive impacts in both societies during the past years, creating more opportunities in the market.

AT the conclusion of the recent roundtable

Envoys&Expats BusinessMirror

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EMBASSIES, EVENTS, ETC.

Three cheers for Czech Republic’s beer night

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ONSIDERED by the Embassy of the Czech Republic as “one of the most fun events” it has staged, the Czech Beer Night was the first purely Czech beer festival in the Philippines held in mid-November.

CZECH Republic Embassy’s team and Kozel Phils. Country Manager Sam Wiggins (center) award a one-year supply of Pilsner Urquell to a lucky winner.

the Czech Republic,” Ambassador Jana Šedivá said in her speech.

Alcoholic drinks were not the only ones featured during the celebration. A Czech agricultural tractor from the famous Zetor Tractors a.s. was exhibited in the venue.

In addition, the Czech traditional-music trio The Jindra Kelíšek Band, also known as TramTram, performed during the event and further showcased the colorful tradition of the European country.

The most awaited part of the program was the raffle draw where seven lucky guests won exciting prizes, including Czech crystal crafts, glass display of the famous Santo Niño de Praga and beer packages.

Together with the alcoholic drinks’ companies, other sponsors, such as Home Credit Philippines, VFS Global, Aero Vodochody Aerospace and the Ministry of Agriculture of the Czech Republic supported the event.

FOREIGN Affairs Secretary Teodoro L. Locsin Jr. (left) and Ambassador Jana Šedivá

It coincided with the commemoration of the Czech Independent State Day and the 30th anniversary of the Velvet Revolution.

The embassy said the beer night held on November 16 at Whitespace Manila in Makati City was its largest event of the year and the first of its kind. More than 500 guests who joined the festivity savored Velkopopovický Kozel, the overflowing original golden lager Pilsner Urquell and state-owned brewery beer Czechvar.

A side from the aforemen-

tioned two beer companies, Whisky Trebitsch, Rudolf Jelínek and Becherovka also took part in the event to showcase their internationally recognized drinks.

“Tonight, as we celebrate the important history commemorated in this event, it is fitting that we also share with all of you, dear friends and partners, a century-old tradition of the Czech Republic of which we are very proud of: beer-making. Though we will not be making them tonight, we would like to give you a taste of high-quality beers and liquors from

THE Jindra Kelíšek Band

Premier Polish artist holds solo concert

POLISH musician Artur Dutkiewicz was in town for his solo piano concert.

P

OLISH jazz pianist and composer Artur Dutkiewicz provided an evening of fine music with ImproMazurka, a solo piano concert on November 16 at the Las Casas Filipinas de Acuzar in Bagac, Bataan.

In partnership with the Embassy of the Republic of Poland in Manila, the celebrated musician serenaded guests and visitors of the heritage hotel and destination aboard the iconic native raft at the serene waters of Umagol River.

Impromazurka in Polish means “improvisation on a lively Polish dance in triple meter.”

Prior to performing at Las Casas, Dutkie-

wicz staged a successful concert at the Tanghalang Aurelio Tolentino, or the Cultural Center of the Philippines’s Little Theater, on November 12. His Philippine tour was part of a weeklong celebration for Poland’s Independence Day on November 11, which was a special day for the Poles “to commemorate the anniversary of the restoration of [their country’s] sovereignty as the Second Polish Republic in 1918 from the German, AustroHungarian and Russian empires,” according to the embassy.

As it was Dutkiewicz’s first time to visit the country, it was also his initial engagement to play in a concert in the Philippines.

POLAND’S Charge d’Affaires to the Philippines Jaroslaw Szczepankiewicz officially welcomed the guests to the concert.

Tagged as the “Ambassador of Polish Jazz” by the Jazz Forum magazine in 2012, Dutkiewicz has appeared in more than 60 countries around the world, from the United States through Europe, Africa, Asia and Australia.

He has also taken part in dozens of renowned jazz and music festivals around the world, including Hague’s North Sea Jazz Festival, Melbourne’s International Jazz Festival, Warsaw’s Jamboree, Cannes’s Midem, Milan’s Music Oggi, Paris’s Festival d`Europe Centrale and Budapest’s Sziget Festival.

His 2012 solo album Mazurkas was inspired by Polish folk music and the music of Chopin, Szymanowski and Bartok.